Alabama Real Estate Practice Exam

Disable ads (and more) with a membership for a one time $2.99 payment

Master your Alabama real estate exam with our comprehensive practice test. Tailored feedback, expert tips, and up-to-date questions to ensure your success!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

In a general partnership, partners must agree on which of the following?

Only selling the property
All activities related to the property
Paying taxes only
Limited liability amounts

The correct answer is: All activities related to the property

In a general partnership, partners have equal say in the decision-making process and are responsible for all activities and decisions related to the property. This means that they must agree on all matters, including but not limited to selling the property, paying taxes, and managing liabilities. Option A is incorrect because partners must also agree on purchasing and managing the property, not just selling it. Option C is incorrect because partners must also agree on other financial matters, including but not limited to budgeting and allocating profits. Option D is incorrect because general partners are not afforded the same limited liability protections as partners in a limited partnership. Therefore, they must agree on all activities and decisions related to the property, making option B the correct answer.