According to the RUPA's rules that determine when property is acquired by a partnership,which of the following statements is false?
A)Property belongs to the partnership if the property is transferred to the partnership in its name.
B)Property belongs to the partnership if the property is transferred to any partner acting as a partner by a transfer document that names the partnership.
C)Property belongs to the partnership if the property is purchased with a partner's funds.
D)Property belongs to the partnership if the property is transferred to any partner by a transfer document indicating the partner's status as a partner or that a partnership exists.

Question

Quizplus · Accepted Answer

Property belongs to the partnership if the property is transferred (1)to the partnership in its name, (2)to any partner acting as a partner by a transfer document that names the partnership,or (3)to any partner by a transfer document indicating the partner's status as a partner or that a partnership exists.In addition,property acquired with partnership funds is presumed to be partnership property.

According to the RUPA's Rules That Determine When Property Is