According to the Uniform Partnership Act, the Three Key Elements

Multiple Choice

According to the Uniform Partnership Act, the three key elements of any general partnership are:

A) A board of directors, a written partnership agreement, and a well-defined product or service.
B) Two owners, an adequate financial base, and a written statement describing the manner in which profits and losses will be divided.
C) Common ownership, shared profits and losses, and right to participate in management.
D) Common stock, a board of directors, and a statement of limited liability.