Which of the Following Is NOT an Essential Element for the Creation

question 31

Multiple Choice

Which of the following is NOT an essential element for the creation of a partnership?

• A)The partners must be carrying on a business in common.
• B)The business must be carried on by or on behalf of all the partners.
• C)The partnership must be registered with the Australian Securities and Investments Commission (ASI
• D)The partners must intend to make a profit.

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Definitions:

Royalty

A payment made to an individual or organization for the right to use a particular work, such as a song, book, or patent.

Franchising

A business model that allows individuals to buy and operate a branch of a larger company, using its branding, systems, and support.

Transit Hubs

Centralized areas where different modes of transportation come together, facilitating the transfer of passengers from one mode to another.

Royalty

Payments made to owners of intellectual property, such as patents, copyrights, or trademarks, for the right to use their work.