Which of the Following Statements Is NOT True Regarding a General

question 59

Multiple Choice

Which of the following statements is NOT true regarding a general partnership?

• A) It is an association of two or more persons to carry on a business for profit.
• B) Loss sharing is a necessary condition of general partnership.
• C) An oral agreement to share profits may be enough to create a general partnership even though the financial contributions are unequal.
• D) Some partnerships are governed by a partnership agreement and it can be either a written agreement or an oral agreement.

---

Definitions:

Electromagnetic Radiation

A form of energy that is propagated through space or matter, consisting of electric and magnetic fields that oscillate at right angles to each other.

Nitrogen Cycle

A biogeochemical cycle by which nitrogen is converted into multiple chemical forms as it circulates among atmosphere, terrestrial, and marine ecosystems.

Human Impact

The effects and consequences of human activities on the environment and its natural processes.

Photochemical Smog

Mixture of several air pollutants that injure plant tissues, irritate eyes, and cause respiratory problems in humans.