A partnership agreement should include all but which one of the following?
A) The duties of the partners.
B) The capital contribution of the partners.
C) The agreement for dividing tax liability of the partnership.
D) The division of profits and losses.

Question

Quizplus · Accepted Answer

The agreement for dividing tax liability of the partnership is not typically included in a partnership agreement because tax liabilities are governed by tax laws and regulations, not by agreements between partners. The other options (duties of the partners, capital contributions, and division of profits and losses) are standard components of a partnership agreement.

A Partnership Agreement Should Include All but Which One of the Following