Which of the Following Statements Best Describes a Partnership

question 161

Multiple Choice

Which of the following statements best describes a partnership?

• A)Partnership involves two or more persons carrying on business with a view toward profits.
• B)Partnerships are created when two or more persons specifically agree to be in partnership.
• C)Partnerships are like any other form of contract; they can only be created when there is consensus between the parties in the form of offer and acceptance to that effect.
• D)Partnerships involve limited liability.
• E)Partnerships are only created when they have been properly registered with the government.