Which of the following is true with regard to partnership?
◦ Sharing gross receipts is sufficient evidence of the existence of a partnership.
◦ A general partner is not an agent of the firm and the other partners.
◦ A limited partnership is an arrangement in which a partner may limit liability to his capital contribution.
◦ The terms of the Partnership Act will be implied in a partnership agreement that includes provisions on the same point.
◦ No partnership can be formed unless the parties intended to create a partnership.