Match Each Statement to the Appropriate Term (A-H)

question 121

Multiple Choice

Match each statement to the appropriate term (a-h) .
-Without an agreement, the law will stipulate this method of sharing profits and losses

• A)Partnership
• B)Partnership agreement
• C)Distribution of remaining cash to partners
• D)Mutual agency
• E)Equally
• F)Death of a partner
• G)Liquidation
• H)Unlimited liability

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Definitions:

Predecease

To die before another person, often used in the context of wills and inheritances.

Grandchildren

The children of one's own child, forming the next generation in a family lineage.

Codicil

An addition or supplement that explains, modifies, or revokes a will or part of a will.

Amendment

A formal change or addition made to a legal document or piece of legislation.