In order to avoid later disputes it is desirable that a partnership agreement:
A. is in writing.
B. should have the partners sharing profits and losses equally.
C. should set up the partnership as a separate legal entity.
D. should set out in detail how the how all likely transactions are to be recordeD.
Answer:A
In order to avoid later disputes it is desirable that a partnership agreement:
A. is in writing. B. should have the partners sharing profits and losses equally. C. should set up the partnership as a separate legal entity. D. should set out in detail how the how all likely transactions are to be recordeD.