A partnership agreement ________.
A)exempts partners from unlimited liability
B)establishes the partnership as a separate legal entity
C)details how much work partners will do and how they will split up the profits
D)defines how many shares of stock the partnership may sell to investors

Question

Quizplus · Accepted Answer

A partnership agreement outlines the terms and conditions of the partnership, including how much work each partner will do and how profits will be shared. It does not typically exempt partners from unlimited liability, establish the partnership as a separate legal entity, or involve shares of stock.

A Partnership Agreement ________