When two or more people are in business together, the business is considered to be a partnership when which of the following occurs?
A. The partners share in management
B. The partners share in authority
C. The partners share the partnership checkbook
D. The partners share the profits
Partners may have different levels of involvement in the business. So someone might be a "silent" partner meaning they contribute money and share profits but don't handle any management or operations. Regardless of how much or little a partner manages, they still share the profits to some degree.
