Which of the following is incorrect with respect to the creation of a partnership?
A) An important indication as to whether a partnership exists is the sharing of the profits of the business activity.
B) The business activity must be continuing in order for it to indicate the existence of a partnership.
C) A partnership can only be created with the consent of the parties.
D) The common method of creating a partnership is by agreement.
E) The duties and obligations of partners to each other can be modified by agreement.

Question

Quizplus · Accepted Answer

A partnership can be formed without the explicit consent of the parties involved, as it can arise from the actions of the parties or by implication of law, not just through explicit consent or agreement.

Which of the Following Is Incorrect with Respect to the Creation