Which of the Following Statements Is Correct

question 17

Multiple Choice

Which of the following statements is correct?

• A)In a partnership, liability for other partners' misdeeds includes but is limited to the amount a particular partner has invested in the business.
• B)Partnerships must be formed according to specific rules which include the filing of a formal written agreement with state authorities where the partnership does business.
• C)A fast growth company would be more likely to set up a partnership for its business organization than would a slow-growth company.
• D)Partnerships have difficulty attracting capital in part because of the other disadvantages of the partnership form of business, including impermanence of the organization.
• E)A major disadvantage of a partnership as a form of business organization is the high cost and practical difficulty of its formation.

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Definitions:

Marriage Rituals

The ceremonies and practices that mark the formal union of two individuals as partners in a personal relationship, varying widely among cultures.

Rites of Passage

Ceremonies or rituals marking important transitional periods in a person's life, such as birth, puberty, marriage, and death.

Classified

Information or material designated as official secret and accessible only to authorized people.

Fetish

An object believed to have supernatural powers, or in psychology, a form of sexual desire in which gratification is linked to an abnormal degree to a particular object, item of clothing, part of the body, etc.