Which of the following is true of profits and losses in a general partnership?
A) The proportion of profit shared is equal to the general partner's initial investment.
B) Losses are shared equally by all general partners.
C) The general partner who proposed the idea of the business gets most profit.
D) The proportion of investment governs only the proportion of loss shared and not profit obtained.
Correct Answer:
Verified
Q42: The _ requires general partners to adhere
Q43: Briefly explain the formation of a general
Q44: Instead of suing the partnerships or other
Q45: Which of the following is a right
Q46: All general partners have an equal right
Q48: A _ is the obligation partners owe
Q49: A general partnership agreement must always be
Q50: Which of the following is true of
Q51: Receipt of a share of business profits
Q52: The term indemnification refers to the right
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents