Many states require partnerships to file the partnership name under laws known as fictitious name statutes. These statutes
A. Require a proper filing as a condition precedent to the valid creation of a partnership.
B. Are designed primarily to provide registration for tax purposes.
C. Are designed to clarify the rights and duties of the members of the partnership.
D. Have little effect on the creation or operation of a partnership other than the imposition of a fine or other minor penalty for noncompliance.
Answer: D. Have little effect on the creation or operation of a partnership other than the imposition of a fine or other minor penalty for noncompliance.
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Indicate whether the statement is true or false