A, B and C form the ABC Partnership. As part of their initial agreement, they each contribute $10,000 in capital. At the time of formation, C owned a building with some unused office space. A, B and C agree that the partnership will have the use of this office space on a month-to-month basis, in exchange for $500 per month paid from the partnership's funds. C is permitted to sell this office building at her election and to keep any profits earned thereupon. True or false?
(A) True, even though the building is partnership property.
(B) True. The building is not partnership property.
(C) False. The building is partnership property.
(D) False. She is permitted to sell the building, because she has sufficient authority to do so, but she may not retain the profits from the sale for herself.