To have a valid joint tenancy, all the owner names must appear on the same document. This is known as the unity of:

Which of the following holds true for a general partnership if the partners have not entered into a written agreement?

A) Partners are required to contribute equal capital to the partnership and bear equal responsibilities. B) Individual partners are exempted from federal income taxes because those taxes are paid by the partnership. C) Partners are required to file a partnership return with the Internal Revenue Service that shows the partnership's profit or loss. D) The partnership is double-taxed because both the partnership and the individual partners pay taxes.

The price per unit of insurance is called the

A) premium. B) loss adjustment expense. C) rate. D) loss reserve.