Which of the Following Is Correct with Regard to Partnership

question 52

Multiple Choice

Which of the following is correct with regard to partnership property?

• A) Like partnership capital, it is a fixed amount set forth in the articles of partnership.
• B) Under the RUPA, there is a rebuttable presumption that unless a contrary intention appears, property acquired with partnership funds is partnership property.
• C) The RUPA sets forth two irrebuttable presumptions that apply when the partners did not express their intent, one of which is that property acquired in the name of one of the partners without an indication of her capacity as a partner and without use of partnership funds is presumed to be that partner's separate property.
• D) If there is no express agreement whether property owned by a partner before formation of the partnership and used in the partnership business is an asset of the partnership, the fact that taxes, liens, and expenses have been paid by the partnership is irrelevant.

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Definitions:

Unconditioned Stimulus

A stimulus that instinctively elicits a response without any prerequisite learning.

Conditioned Response

An acquired reaction to a stimulus that was once neutral, now associated with a stimulus that elicits an innate response.

Unconditioned Response

An automatic and involuntary reaction to a stimulus that occurs naturally, without any prior learning.

Classical Conditioning

A behavioral training method where the consistent pairing of two stimuli results in a response originally elicited by the second stimulus being ultimately elicited by the first stimulus.