Which of the Following Statements Regarding Partnerships Is True

question 113

Multiple Choice

Which of the following statements regarding partnerships is true?

• A) When forming a partnership, a formal partnership agreement should be drawn up with the help of an attorney.
• B) Unlike other forms of ownership, a partnership has a legal life of its own.
• C) A disadvantage of a partnership is the limited liability of the partners.
• D) A partnership is an incorporated business owned by two or more people.
• E) Partnerships often dissolve within two years.

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Definitions:

Stage Theories

The conceptualization that development or progress occurs through distinct and sequential stages.

Uniform Interventions

Standardized methods or procedures applied consistently in a research or clinical setting.

Continuum Theories

Theories that suggest changes or phenomena occur gradually over a continuum rather than being divided into distinct categories.

Smoking Cessation

The process of discontinuing tobacco smoking, which can significantly reduce the risk of developing smoking-related diseases.