1- Which of the following is not an example of dissolution of a partnership by operation of law?
A. Bankruptcy. B. Withdrawal. C. Death?. D. Illegality
2- A joint venture is a(an):
A. Association limited to no more than two persons in business for profit.
B. Enterprise of numerous co-owners in a nonprofit undertaking.
C. Corporate enterprise for a single undertaking of limited duration.
D. Association of persons engaged as co-owners in a single undertaking for profit.
3- Which of the following is NOT a distinguishing characteristic of a partnership?
A. A partnership is a voluntary, consensual relationship.
B. The partners are associated as co-owners to trans- act the business of the firm for profit.
C. A partnership a form of business ownership in which one individual owns the business.
D. A partnership involves partners’ contributions of capital, services, or a combination of these.