Which one of the following statements best describes a partnership? a. A contract by which two or more persons agreed to share profits. b. A board given control of administration of property in trust. C. A type of business that owned and run buy one person. d. An arrangement in with goods are left in possession of an agent to sell. Using fixed capital method, all adjustments are made in; a. Partner's Current Account b. Partner's fixed account c. Partner's Capital account d. Partner's nominal account Clear my choice Which one of the following features of partnership states that business must be carried on by all or acting for all? a. Partnership agreement b. Limited liability c. Mutual Agency d. Legal Business