Jimmy Wishes to Form a Partnership with His Friend Timmy

Multiple Choice

Jimmy wishes to form a partnership with his friend Timmy.They intend to run a used computer shop together.Which of the following elements must be present in order to establish the partnership?

A) They must both be good at repairing computers.
B) They must both intend to make a profit.
C) They must share the profits equally between them.
D) They must register the partnership with ASIC.