Which One of the Following Statements Is Correct with Respect

question 119

Multiple Choice

Which one of the following statements is correct with respect to the creation of a partnership agreement?

• A) Where two people agree to enter into a partnership, there is no partnership created unless all of the elements of a contract are present.
• B) A partnership can be created only by contract.
• C) For a partnership to exist, the relationship giving rise to it must be of an ongoing business nature, not a one-time promotion.
• D) A partnership can be created by an intention to share the revenues between the partners.
• E) For a person to be a limited partner, there must be at least two general partners.

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Definitions:

Probability

A measure of the likelihood of an event happening, expressed as a number between 0 and 1.

Response

A reaction by an organism or system to a specific stimulus or situation.

Quality of Reinforcement

Refers to how effective a reward or punishment is in strengthening or weakening a behavior.

Performance

The manner in which something or someone functions, operates, or behaves.