Which of the following controls whether the partnership or an individual owns the property?
A)Intent of the partners
B)Invoices
C)Whether the property is commonly used for the type of business
D)The function of the property

Question

Quizplus · Accepted Answer

The intent of the partners controls whether the partnership or an individual partner owns the property.It is best to have a written record of the partners' intent as to ownership of all property used by the partnership,such as a partnership agreement and partnership accounting records.

Which of the Following Controls Whether the Partnership or an Individual