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Which of the Following Statements Is True

question 53

Multiple Choice

Which of the following statements is true?


Definitions:

Partnership Name

The official legal name under which a partnership business operates and is recognized.

Both Partners

In the context of business or law, it refers to the mutual and joint responsibility or involvement of two parties in an agreement or venture.

Individual Partner

A member of a partnership who contributes capital, participates in management, and is personally liable for partnership debts.

Dissolution

The process of formally ending or dismissing a legal entity or agreement, such as the dissolution of a corporation or marriage.

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