PRC-3 · Chapter 2 · Question 33 of 61
Zaid and Omar decide to start a retail business together. They draft a legal document outlining profit-sharing ratios, capital contributions, and dispute resolution methods. What is this document called?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Partnership Agreement / Deed
Explanation
A partnership agreement (or deed) is the foundational contract between partners that details how the partnership will be run and how profits will be shared.
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