Match each term to the correct definition as it relates to partnerships:

Question 1 options:

	Each partner can sign contracts on behalf of the company, with or without the other partner's knowledge or approval.
	a contra equity account where withdrawals are recorded
	When the partners change for any reason, the existing partnership ends a new one must be formed.
	each partner is responsible for all debts of the partnership

1.	Mutual agency
2.	Limited life
3.	Drawing account
4.	Unlimited liability