Which of the following serves as a motive for an organization or venture to qualify as a partnership?
A) The organization seeks to increase its stake in the percentage of profits made by the business.
B) The organization seeks to avoid personal liability.
C) The organization wants to make a profit.
D) The organization wants to reduce the number of approvals it seeks before taking decisions.
Correct Answer:
Verified
Q25: Which of the following is true in
Q26: Which of the following must be in
Q27: An ordinary partnership is also known as
Q28: A sole proprietor has limited personal liability.
Q29: The Uniform Partnership Act's definition of a
Q31: The _ is a model act that
Q32: Explain how a sole proprietorship is taxed.
Q33: A general partnership is valid only if
Q34: List and briefly explain the advantages and
Q35: The Revised Uniform Partnership Act is a
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