Which of the Following Statements Is True of the Formation

question 100

Multiple Choice

Which of the following statements is true of the formation of a partnership?

• A) Working out the details of a partnership agreement is always a simple process.
• B) Forming a partnership requires issuance of fresh stock to the public.
• C) Partnerships are created by filing a document called the articles of organization.
• D) Partnerships can be established based on a simple verbal agreement.

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Definitions:

Professional Entertainer

An individual who performs for an audience in various media or live venues as a paid occupation.

Substantial Performance

A legal term indicating that enough of a contract has been fulfilled to warrant payment, even if minor details remain incomplete.

Contracted

Engaged or bound by an agreement or contract which specifies the terms and conditions of a relationship or transaction.

Flower Arrangements

The art of organizing and designing flowers and foliage into a pleasing and coherent display, often for decorative purposes.