Business partnership pursuant to the uniform partnership act

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Reference no: EM13901532

Which is FALSE regarding a traditional business partnership pursuant to the Uniform Partnership Act?

a. Absent an agreement partnership profits are shared equally by the partners regardless of any individual's partner contribution, knowledge, skills, and/or efforts.

b. Absent an agreement partners are not entitled to any salary or remuneration for acting in the partnership business.

c. Partners are regarded as agents of the partnership when acting in the partnership business.

d. The dissolution of a partnership will always lead to a winding-up, liquidation, and termination of the partnership.

Reference no: EM13901532

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