Which of the Following Statements Regarding Partnerships Is Incorrect

question 73

Multiple Choice

Which of the following statements regarding partnerships is incorrect?

• A) There are no legal formalities required to form a partnership and it can be an oral agreement.
• B) Partnerships have unlimited liability not subject to the amount contributed by each partner.
• C) The partnership is subject to income tax, not the individual partners.
• D) Each partner has the authority to enter contracts on behalf of the partnership, provided the contracts relate to normal operations.

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Definitions:

Bullying

Aggressive behavior intended to harm or intimidate others, where there is a power imbalance.

Relational Aggression

A type of aggression in which harm is caused through manipulation or damage to relationships or social status.

Bullying

The act of repeatedly subjecting someone to aggressive behavior, abuse, or intimidation, intended to harm, control, or discomfort the victim.

Prosocial Behavior

Voluntary actions intended to benefit or help others without expecting anything in return.