Which of the Following Situations Is Most Likely to Be

question 7

Multiple Choice

Which of the following situations is most likely to be a partnership?

• A)Adam and Bruce have agreed to stage a play together and to share gross returns but not liability.
• B)Adam and Bruce carry on a restaurant business together.
• C)Adam and Bruce own land together;Adam owns two-thirds and Bruce owns one-third.
• D)Adam and Bruce own land together as joint tenants.

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Definitions:

Financialization

The increasing dominance of financial markets, financial motives, financial institutions, and financial elites in the economy, overshadowing traditional industrial capital.

Global Integration

refers to the process of interconnecting economies, cultures, and regulatory systems across the world, leading to increased interaction and coordination on a global scale.

Free Trade Agreements

International treaties between countries that reduce or eliminate trade barriers, such as tariffs and import quotas, to encourage trade and economic cooperation.

Free Trade

An economic policy allowing goods and services to be traded across international borders with little to no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange.