Will and Jay Want to Form a General Partnership

question 36

Multiple Choice

Will and Jay want to form a general partnership.To form a legal partnership,their agreement need NOT include

• A)a sharing of profits and losses.
• B)a joint ownership of the business.
• C)an equal right to management in the business.
• D)the initials LLC in the name of the business.

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Definitions:

Immune System

The complex network of cells, tissues, organs, and the substances they produce, which helps protect the body from infections and diseases.

Hemagglutinin Stalk

The hemagglutinin stalk is a structural component of influenza viruses involved in the virus's attachment to and entry into host cells.

Performance-oriented

Focused on achieving results and meeting targets, often with an emphasis on efficiency, productivity, and outcomes.

Passive Activity

Economic actions in which the participant does not materially participate, often relating to certain types of business ventures or investments.