USCPA每日一练之REG【2015-11-19】

高顿网校2015-11-19 13:42Lynn.yu
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　　What term is used to describe a partnership without a specified duration?

　　A. A partnership by estoppel.

　　B. A perpetual partnership.

　　C. An indefinite partnership.

　　D. A partnership at will.

　　Answer:

　　D is corrent. The requirement is to identify the term used to describe a partnership without a specified duration. D is corrent because a "partnership at will" is used to describe a partnership without a specified duration.

　　A is incorrect because a "partnership by estoppel" refers to a situation in which an individual who is not a partner makes a representation, or allows a representation to be made, that he or she is a partner.

　　B is incorrect because it is not a recognized business structure.

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