Which of the Following Is True with Regard to Partnership

question 23

Multiple Choice

Which of the following is true with regard to partnership?

• A) No partnership can be formed unless the parties intended to create a partnership.
• B) Sharing gross receipts is sufficient evidence of the existence of a partnership.
• C) The terms of the Partnership Act will be implied in a partnership agreement that includes provisions on the same point.
• D) A general partner is not an agent of the firm and the other partners.
• E) A limited partnership is an arrangement in which a partner may limit liability to his capital contribution.

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Definitions:

Resisting Change

The act of opposing or struggling against modifications or transformations within an organizational setting or in personal habits.

External Change Agents

Professionals from outside an organization who are brought in to facilitate change and offer unbiased perspectives on challenges.

Advantages And Disadvantages

The positive and negative aspects of a particular choice, situation, or action that need to be considered when making a decision.

Fear Of Failure

The apprehension or anxiety of failing to achieve a goal or meet a standard, which can influence behavior and decision-making.