• 1 Marks

BL – May 2018 – L1 – SA – Q4 – Partnership Law

Identify the nature of the relationship in a partnership.

Partnership is the relationship which subsists between persons carrying on business in common with a view to
A. Assisting other partners
B. Making and sharing profit
C. Ensuring accuracy
D. Establishing good business
E. Deceiving the public

B

Explanation:
The correct answer is B. Making and sharing profit. Partnership is defined as a relationship where two or more persons carry on a business in common with the intention of making and sharing profits. This is the central purpose of forming a partnership, differentiating it from other types of relationships in business that may not focus on profit-sharing.

Back to all questions
online
Knowsia AI Assistant

Conversations

Knowsia AI Assistant

Pick a Form

Professional Tutor Application Form
Academic Tutor Application Form
Student Tutor Application Form