According to the Uniform Partnership Act, the three key elements of any general partnership are

Multiple Choice

common stock, a board of directors, and a statement of limited liability.

a board of directors, a written partnership agreement, and a well$-$defined product or service.

common ownership, shared profits and losses, and right to participate in managing the operations.

two owners, an adequate financial base, and a written statement describing the manner in which profits and losses will be divided.