Which of the Following Is True with Regard to Partnership

question 152

Multiple Choice

Which of the following is true with regard to partnership?

• A)The terms of the Partnership Act will be implied in a partnership agreement that includes provisions on the same point.
• B)Sharing gross receipts is sufficient evidence of the existence of a partnership.
• C)A general partner is not an agent of the firm and the other partners.
• D)No partnership can be formed unless the parties intended to create a partnership.
• E)A limited partnership is an arrangement in which a partner may limit liability to his capital contribution.

Distinguish between different types of marketing research (descriptive, causal, and exploratory).

Appreciate the role of constraints in the marketing research process.

Apply marketing research insights to develop marketing actions.

Evaluate the effectiveness of marketing research in solving marketing problems.

---

Definitions:

Cash Cycle

The period between the outflow of cash for the purchase of raw materials and the inflow of cash from the sale of goods or services, reflecting the time it takes for a business to convert its investment in inventory back into cash.

Accounts Receivable Period

The amount of time it takes for a company to collect payment from its customers after a sale has been made, indicative of the company's efficiency in collecting its receivables.

Inventory Item

refers to any product or goods that a company holds in stock with the intention of selling it to customers.

Inventory Period

The average time it takes for a company to turn its inventory into sales, indicating how quickly products are sold.