In Which of the Following Situations Will the Inference of the Existence

question 11

Multiple Choice

In which of the following situations will the inference of the existence of a partnership be drawn from the receipt of profits of a business?

• A) Where payments of a debt are made to a creditor in installments from the profits of the partnership
• B) Where wages are paid to an employee who is not also an owner
• C) Where an annuity is paid to the widow of a deceased partner from partnership profits
• D) Neither the creditor,the employee,nor the widow in these situations will be considered a partner under the guidelines in the RUPA.

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Definitions:

Soviet Union

A federal socialist state in Northern Eurasia that existed from 1922 to 1991, formally known as the Union of Soviet Socialist Republics (USSR), characterized by its single-party rule by the Communist Party.

Chief Officers

refer to the highest-ranking executives in an organization responsible for making major corporate decisions.

Fraud

The intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.