In order to avoid later disputes it is desirable that a partnership agreement:
A) is in writing.
B) should have the partners sharing profits and losses equally.
C) should set up the partnership as a separate legal entity.
D) should set out in detail how the how all likely transactions are to be recorded.

Question

Quizplus · Accepted Answer

Having a written partnership agreement ensures that all partners are aware of their rights and obligations, which helps to avoid later disputes. While options B, C, and D may also be desirable, they are not as essential as having a written agreement.

In Order to Avoid Later Disputes It Is Desirable That