Which of the following statements is true of the formation of a partnership?
A) Working out the details of a partnership agreement is always a simple process.
B) Forming a partnership requires issuance of fresh stock to the public.
C) Partnerships are created by filing a document called the articles of organization.
D) Partnerships can be established based on a simple verbal agreement.

Question

Quizplus · Accepted Answer

Partnerships can be established based on a simple verbal agreement, although it is advisable to have a written agreement to avoid future disputes.

Which of the Following Statements Is True of the Formation