Which of the Following Statements Best Describes How a Partnership

question 51

Multiple Choice

Which of the following statements best describes how a partnership comes into existence?

• A) The partners must sign a written partnership agreement.
• B) The partners must register the partnership.
• C) Two or more people carry on business together with a view to profit.
• D) Two or more people purchase property together.

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Definitions:

Poverty

The state of having insufficient financial resources to meet basic living needs such as food, shelter, and healthcare.

Cost-Of-Living Adjustment

An increase in income or benefits designed to offset inflation and maintain the purchasing power of individuals, often applied to wages, salaries, and social security benefits.

Rate Of Inflation

The percentage increase in the general price level of goods and services in an economy over a period, indicating the rate at which purchasing power is eroding.

Financing

The process of providing funds for business activities, making purchases, or investing, through mechanisms like loans, credit, or investment.