Which statement best describes how a partnership comes into existence?
A) The partners must sign a written partnership agreement.
B) The partners must register the partnership.
C) Two or more people carry on business together with a view to profit.
D) Two or more people purchase property together.

Question

Quizplus · Accepted Answer

A partnership is generally formed when two or more individuals or entities conduct a business together with the intention of sharing profits. There is no absolute requirement for a written agreement or registration for a partnership to exist, although these steps might be taken for clarity and legal reasons. Purchasing property together does not necessarily constitute a partnership unless it is done with the intent of carrying on a business.

Which Statement Best Describes How a Partnership Comes into Existence