M: Business 3rd Edition by O. C. Ferrell, Geoffrey Hirt, Linda Ferrell

Exercise 42

Articles of partnership are required by many states for businesses that have two or more co-owners. The issues covered usually include all of the following except

A. a statement of what each partner contributes.

B. how the profits and losses will be divided.

C. what duties the partners will have.

D. provisions for leaving the partnership.

E. classes of stock to be issued.