A Partnership Is Not Inferred When Profits Are Received in Payment

question 12

True/False

A partnership is not inferred when profits are received in payment of a debt.

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Definitions:

Total Utility

The full pleasure gained by using a particular volume of goods or services.

Marginal Utility

The increased enjoyment or advantage gained by a consumer from acquiring one more unit of a particular good or service.

Utility Schedule

A table or graph showing the level of satisfaction or utility that a consumer derives from consuming different quantities of a good or service.

Marginal Utility

The additional satisfaction or benefit a consumer receives from consuming one more unit of a good or service.