Which of the Following Is True with Regard to Partnership

question 174

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) A limited partnership is an arrangement in which a partner may limit liability to his capital contribution.
• C) No partnership can be formed unless the parties intended to create a partnership.
• D) Sharing gross receipts is sufficient evidence of the existence of a partnership.
• E) A general partner is not an agent of the firm and the other partners.

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Definitions:

First Born

Pertains to the first child born into a family, who may experience and exhibit unique psychological and social traits due to their birth order.

Sex Differences

Variations in characteristics or behaviors that are typically associated with being male or female, often observed in psychological or biological studies.

Gender Roles

Socially constructed roles, behaviors, activities, and attributes that a given society considers appropriate for men and women.

Adolescence

The transitional stage of physical and psychological development that typically occurs during the period from puberty to legal adulthood.