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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