In Determining Whether a Partnership Exists,which of the Following Factors

question 29

Multiple Choice

In determining whether a partnership exists,which of the following factors is not evidence of a partnership?

• A) Shared profits and losses
• B) Co-ownership of property
• C) Equal control of the business
• D) All of these are evidence of partnership.

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Definitions:

Circulating Security Interests

A security interest in movable assets that change in quantity or value, allowing the debtor to buy, sell, or exchange the collateral without changing the secured status.

Administrator

An independent and suitably qualified person appointed to take full control of a company in an attempt to save either the company or the company’s business.

Execute a Document

The act of signing a document or contract officially, thereby making it legally binding.

Members' Voluntary Winding Up

A process initiated by the shareholders of a solvent company to voluntarily dissolve and liquidate its assets under the supervision of a liquidator.