The Essential Element That Would Distinguish a Business Undertaking as a Partnership

Multiple Choice

The essential element that would distinguish a business undertaking as a partnership and NOT a joint venture operation would be:

A) the business undertaking makes a profit in the year.
B) there is no joint control agreement so that the undertaking is neither a joint venture entity nor a joint venture operation.
C) the business activity is an undertaking formed by the investors with the intention of making a profit.
D) none of the above.