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In a partnership, the conduct of members is guided by

Economics
WAEC 2016

In a partnership, the conduct of members is guided by

  • A. a memorandum of understanding
  • B. the article of partnership
  • C. an article of association
  • D. a partnership constitution
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Correct Answer: Option B
Explanation

Articles of partnership is a voluntary contract between/among two or more persons to place their capital, labor, and skills into business, with the understanding that there will be a sharing of the profits and losses between/among partners.

 

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