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1) Which one of the following is true with regards to partnership? a) A general partner is not an agent of the firm and the
1) Which one of the following is true with regards to partnership?
a) A general partner is not an agent of the firm and the other partners.
b) The terms of the Partnership Act will be implied in a partnership agreement that includes provisions on the same point.
c) A limited partnership is an arrangement in which a partner may limit liability to his capital contribution.
d) No partnership can be formed unless the parties intended to form a partnership.
e) Sharing gross receipts is sufficient evidence of the existence of a partnership.
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