Question
1. True/false: Burnside Corporation and the D. Stewart Trust can be partners in a partnership if they carry on as co-owners a business for profit.
1. True/false:Burnside Corporation and the D. Stewart Trust can be partners in a partnership if they carry on as co-owners a business for profit.
2. True/false:Partners may elect whether or not the partnership will be taxed as a separate entity.
3.True/false:Miller and Baker formed a partnership and purchased a cycle shop. The name of the new business cannot be "Miller Cycle Shop" because the name of the partnership must include the names of both partners if it includes the name of one partner.
4. True/false:A partner can withdraw his partnership capital at any time.
5. True/false:A general partnership is formed without any formality and no documents need be filed with the state.
6. True/false:Whether an individual partner or the partnership owns certain property determines who gets it upon dissolution of the partnership and who shares in income from it.
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