A Good Reason Why Partners Should Spell-Out the Details of Their

Multiple Choice

A good reason why partners should spell-out the details of their partnership arrangements in writing is:

A) The partnership is not a legally recognized business unless they do so.
B) A written agreement will help reduce misunderstandings and disagreements among the partners.
C) Putting the agreement in writing will limit the liability of each partner to a specified level.
D) Doing so will make it easier to convert the business to a corporation at a later date.