Which of the Following Statements Is True of the Formation

question 22

Multiple Choice

Which of the following statements is true of the formation of partnerships?

• A)Partnership accounting systems are the least expensive of all the business forms.
• B)The partnership form generally requires a number of annually recurring events such as state filings or statutorily mandated meetings of owners.
• C)The vast majority of partnership agreements are written.
• D)The co-owners of a partnership must intend to join in the sharing of risks and rewards via the active conduct of business.