Which of the Following Statements About Partnerships Is Incorrect

question 132

Multiple Choice

Which of the following statements about partnerships is incorrect?

• A) Partnership assets are co-owned by partners.
• B) If a partnership is terminated the assets do not legally revert to the original contributor.
• C) If the partnership agreement does not specify the manner in which net income is to be shared it is distributed according to capital contributions.
• D) Each partner has a claim on assets equal to the balance in the partner's capital account.

---

Definitions:

Theory-Based

Approaches, methods, or practices that are grounded in or derived from established theories.

Nutrition Education Interventions

Programs or strategies designed to inform individuals or groups about dietary best practices and healthy eating habits.

Benefits

Advantages or positive outcomes gained from actions or situations, often related to health, wellness, or economic improvements.

Generalizations

Clear statements that are universally true.