The newly formed Tavin and Shane Partnership cannot commence business until it meets its state's required minimum amount of capitalization.

Question

Quizplus · Accepted Answer

There is no universal rule on minimum capitalization requirements for partnerships. Each state sets its own rules and regulations. Some states do not require a minimum capitalization amount, while others do. Therefore, the statement is not universally true.

The Newly Formed Tavin and Shane Partnership Cannot Commence Business