Alabama Real Estate Practice Exam

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Prepare for the Alabama Real Estate Exam. Utilize flashcards and multiple-choice questions, each coupled with hints and explanations. Ace your upcoming test!

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

  1. Only selling the property

  2. All activities related to the property

  3. Paying taxes only

  4. 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.

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