Which of the following are items that should be outlined in a partnership agreement?
A) procedures for settling disputes among partners
B) method of sharing profits and losses among the partners
C) procedures for admitting a new partner
D) All of the above items should be outlined in a partnership agreement.

Question

Quizplus · Accepted Answer

All of the choices (A), (B), and (C) are items that should be outlined in a partnership agreement. In general, a partnership agreement is a legal document that defines the terms of the partnership between two or more partners, including their rights and responsibilities, as well as the terms for dissolving the partnership. The items mentioned in the choices are important components of the agreement that help to clarify the expectations and obligations of each partner, and help to ensure that the partnership operates smoothly and efficiently.

Which of the Following Are Items That Should Be Outlined