Which of the following is true under the Uniform Partnership Act,regarding profit and partnerships?
A) There is no requirement that a partnership be formed with a profit-making motive, and all states recognize the status of non-profit partnerships.
B) A partnership must have a profit-making motive only if the partnership has five or more members.
C) There is a requirement that a partnership have a profit-making motive only if the partnership has been in existence for over one year.
D) The partners must operate the business for a profit, and the partnership must be dissolved if no profit is made for three consecutive years.
E) The partners must operate the business for a profit which is construed to mean that the partners must intend to make some kind of profit from the business.
Correct Answer:
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