Which of the Following Statements Is True Under the Uniform

question 65

Multiple Choice

Which of the following statements is true under the Uniform Partnership Act, regarding profit and partnerships?

• A) There is no requirement that a partnership be formed with a profit-making motive, and all states recognize the status of non-profit partnerships.
• B) A partnership must have a profit-making motive only if the partnership has five or more members.
• C) There is a requirement that a partnership have a profit-making motive only if the partnership has been in existence for over one year.
• D) The partners must operate the business for a profit, and the partnership must be dissolved if no profit is made for three consecutive years.
• E) The partners must operate the business for a profit, which is construed to mean that the partners must intend to make some kind of profit from the business.

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Definitions:

Middle Term

The term that appears in both premises of a syllogism but not in the conclusion, serving as a link between the major and minor terms.

Syllogism

A form of reasoning in which a conclusion is drawn from two given or assumed propositions (premises), each of which shares a common term not present in the conclusion.

Hallucinogenic Drug

A substance that induces alterations in perception, mood, and thought, often creating experiences that differ from reality.

Middle Term

In a syllogism, the term that appears in both premises but not in the conclusion, serving as a link between the major and minor terms.