Which of the Following Is the Proper Definition of a Partnership

question 56

Multiple Choice

Which of the following is the proper definition of a partnership as set out in the Partnership Act?

• A) Partnership exists where two or more persons carry on business together with a view towards profits.
• B) A partnership exists where any business is carried on with a view towards profits.
• C) A partnership is created where a corporation with shareholders is registered with the federal government.
• D) A partnership is only created where the partners actually share the profits from a business.
• E) A partnership exists only where two or more people enter into a written agreement to be partners.

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Definitions:

Product Quality

The measure of a product's ability to meet or exceed customer expectations.

Customer Service

It is the support and assistance provided by a company to the people who use or buy its products or services.

Dominant Values

Refer to the prevailing or most important values that are shared among a group, culture, or individual, influencing behavior and decision-making.

Organizational Culture

encompasses the values, beliefs, and behaviors that contribute to the unique social and psychological environment of an organization.