Which of the Following Is Incorrect with Respect to the Creation

question 78

Multiple Choice

Which of the following is incorrect with respect to the creation of a partnership?

• A) An important indication as to whether a partnership exists is the sharing of the profits of the business activity.
• B) The business activity must be continuing in order for it to indicate the existence of a partnership.
• C) A partnership can only be created with the consent of the parties.
• D) The common method of creating a partnership is by agreement.
• E) The duties and obligations of partners to each other can be modified by agreement.

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Definitions:

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