Abe and Carlos Want to Form a General Partnership

question 57

Multiple Choice

Abe and Carlos want to form a general partnership.What must they do in order to create this legal form of business?

• A)They must get a partnership license from the secretary of state.
• B)They must sign a written agreement and file it with the secretary of state.
• C)They must first orally agree to become partners and then formulate a contract.
• D)They can start a partnership without any formalities.

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Definitions:

Intelligence

A person's capacity to acquire knowledge, reason, solve problems, think abstractly, understand complex ideas, learn quickly, and adapt to environmental challenges.

Out-group Homogeneity Bias

The perceptual tendency to overestimate the similarity of individuals within an out-group compared to those within an in-group.

Variability

The degree to which data points in a set differ from each other and from the average of the set.

In-group

A social group to which a person psychologically identifies as being a member.