Which of the Following Are Disadvantages of the Partnership Form

question 255

Multiple Choice

Which of the following are disadvantages of the partnership form of ownership?

• A) Personal liability and double taxation.
• B) Personal liability and limited firm life.
• C) Double taxation and limited firm life.
• D) Ease of formation and unlimited firm life.
• E) Ease of formation and ease of ownership transfer.

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Definitions:

Circumstantial Evidence

Testimony not based on actual observation or personal knowledge; evidence that leads one to infer the existence of other facts.

Assault and Battery

Legal terms where "assault" refers to the threat of harm, and "battery" to the actual physical impact on another person.

Fair Comment

A defence available when defamatory statements are made about public figures or works put before the public.

Methane Gas

A colorless, odorless, flammable gas that is the main component of natural gas and a potent greenhouse gas.