The purpose of filing "statements" under RUPA is
A) to satisfy the requirement that all partners have access to the firm's books and records.
B) to report income to the IRS.
C) to establish or deny authority of partners.
D) to announce the arrival or departure of new partners.
E) to eliminate joint and several liability.

Question

Quizplus · Accepted Answer

The purpose of filing statements under RUPA is to establish or deny authority of partners. These statements contain important information such as the name of the partnership, the names and addresses of the partners, and the authority of each partner to act on behalf of the partnership. Filing statements is necessary to determine the legal responsibilities and limitations of each partner within the partnership.

The Purpose of Filing "Statements" Under RUPA Is