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1. A partnership is an association of two or more persons to carry on a not for profit business.

True

False

2. A general partnership is dissolved by the death of a general partner.

True

False

3. A limited partnership consists of only limited partners.

True

False

4. A partnership agreement must always be in writing.

True

False

5. The name of the limited partnership must contain the names of the general and limited partners.

True

False

6. Withdrawal of a partner causes dissolution of the general partnership.

True

False

7. The certificate of limited partnership must designate the New York Secretary of State as agent of the limited partnership for service of process.

True

False

8. A minor may become a general partner.

True

False

9. A general partnership must pay Federal income tax.

True

False

10. Title to all partnership property must be in the name of the partnership.

True

False

Operation Management, Management Studies

  • Category:- Operation Management
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