With respect to agency relationship and the Partnership Act,the term "partners" is synonymous with which of the following?

Question

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The term "partners" in the context of partnership law refers to the principals or owners of the partnership. They have a mutual agency relationship and share profits and losses in accordance with the Partnership Act. While capital contributions are important in determining the partners' ownership interests and share of profits, it is not synonymous with the term "partners". Limits on authority are mechanisms that partners use to manage the partnership's operations and ensure that each partner acts within their scope of authority, but they do not define the partners themselves.

With Respect to Agency Relationship and the Partnership Act,the Term