Which of the Following Is Correct with Respect to the Law

question 157

Multiple Choice

Which of the following is correct with respect to the law of partnership?

• A) All partnerships must be registered.
• B) Partnership is generally a less costly method of carrying on business than incorporation.
• C) All partners have a right to an equal say in the management of the partnership and this cannot be changed by agreement.
• D) The partnership relationship is governed by legislation that states that profits and losses are to be shared equally, and this cannot be modified by agreement.
• E) Any major change in the partnership must be made by unanimous agreement, and this cannot be changed by partnership agreement.

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