Which of the following is TRUE of a written partnership agreement? O It is an agreement in which the partners hold a direct agreement with the registration body, and the registration body acts as an regulator between the partners. It is a legally-binding agreement between the owners which explains the procedures for liquidating the partnership. O It is a legally-binding agreement between the proprietors and the stock exchange where it is listed regarding the profit sharing between the owners. O It is an informal agreement between the partners and is not legally binding.
Which of the following is TRUE of a written partnership agreement? O It is an agreement in which the partners hold a direct agreement with the registration body, and the registration body acts as an regulator between the partners. It is a legally-binding agreement between the owners which explains the procedures for liquidating the partnership. O It is a legally-binding agreement between the proprietors and the stock exchange where it is listed regarding the profit sharing between the owners. O It is an informal agreement between the partners and is not legally binding.
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:Which of the following is TRUE of a written partnership agreement?
O It is an agreement in which the partners hold a direct agreement with the registration body, and the registration body acts as an regulator
between the partners.
It is a legally-binding agreement between the owners which explains the procedures for liquidating the partnership.
It is a legally-binding agreement between the proprietors and the stock exchange where it is listed regarding the profit sharing between the
owners.
O It is an informal agreement between the partners and is not legally binding.
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