Which of the Following Is One of the Disadvantages of a Partnership

question 23

Multiple Choice

Which of the following is one of the disadvantages of a partnership?

• A)Unlimited liability of partners
• B)Lack of formalities
• C)Limited to not-for-profit
• D)Separate legal personality

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Definitions:

Mental Impairment

A condition affecting one's cognitive abilities and daily functioning, possibly due to illness or injury.

Ratification

The formal approval or confirmation of an act or agreement that was initially unauthorized, making it officially valid.

Ratified

The process of formally approving or confirming a previous act or decision, making it officially valid.

Disaffirmed

The act of denying, rejecting, or nullifying an agreement or contract, especially by a minor.