Example of dissolution of partnership by operation of law

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Reference no: EM131784723

1- Which of the following is not an example of dissolution of a partnership by operation of law?

A. Bankruptcy. B. Withdrawal. C. Death?. D. Illegality

2- A joint venture is a(an):

A. Association limited to no more than two persons in business for profit.

B. Enterprise of numerous co-owners in a nonprofit undertaking.

C. Corporate enterprise for a single undertaking of limited duration.

D. Association of persons engaged as co-owners in a single undertaking for profit.

3- Which of the following is NOT a distinguishing characteristic of a partnership?

A. A partnership is a voluntary, consensual relationship.

B. The partners are associated as co-owners to trans- act the business of the firm for profit.

C. A partnership a form of business ownership in which one individual owns the business.

D. A partnership involves partners’ contributions of capital, services, or a combination of these.

Reference no: EM131784723

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