Which of the Following Statements Is True of Partnership

question 90

Multiple Choice

Which of the following statements is true of partnership?

• A)If the partners have no partnership agreement specifying how to divide profits and losses, then they share equally.
• B)It is legally required to share the profit and losses equally, irrespective of the partnership agreement.
• C)The stated ratio of profit sharing needs to be approved by the SEC.
• D)The profit sharing is always based on each partner's capital balances and any losses will be shared equally.

---

Definitions:

Positive Symptom

Symptoms of mental health conditions characterized by an excess or distortion of normal functions, such as delusions or hallucinations in schizophrenia.

Social Skills Training

A form of behavior therapy used to improve interpersonal abilities through the use of role-playing, modeling, and other techniques.

Nonverbal Communication

The process of conveying a message without the use of words, through gestures, facial expressions, and body language.

Skills Generalization

The process by which a person learns to apply learned skills in different situations or contexts.