Which of the Following Statements Is Correct with Respect to the Partnership

question 6

Multiple Choice

Which of the following statements is correct with respect to the Partnership Act?

• A) The Partnership Act always overrides any provisions contrary to it set out by the partners in the partnership agreement.
• B) The Canadian Partnership Act is enacted by the federal government and creates a uniform and cohesive system of partnership law for all of Canada.
• C) The Partnership Act states clearly that a partnership is only created by specific agreement between the partners to that effect.
• D) The Partnership Act sets out provisions that will govern the relations between the partners unless those partners have agreed otherwise.
• E) When in conflict, the terms of the federal Partnership Act override the provincial partnership acts.

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Definitions:

Concrete Experience

A Kolb's Experiential Learning Theory component, involving learning through specific experiences and reflecting on those experiences.

Living Beings

Organisms that exhibit the characteristics of life, such as growth, reproduction, responsiveness, and metabolism.

Meaningful

Having significant, purposeful value or importance; capable of eliciting deep thought or emotion.

OTTFFSSENT

OTTFFSSENT is a mnemonic device used to remember the initial letters of the first ten numbers in sequence: One, Two, Three, Four, Five, Six, Seven, Eight, Nine, Ten.