In Comparison with the Single Proprietorship Form of Organization, the Partnership

question 58

Multiple Choice

In comparison with the single proprietorship form of organization, the partnership form offers which of the following advantages?

• A) simple transfer of interest in the partnership to outsiders
• B) combination of ability and experience of the partners
• C) legal liability of each partner for all the debts of the partnership
• D) limited life

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Definitions:

"Reasonable."

Being in accordance with logic, fairness, or moderate estimation; often used to describe actions or thoughts that are justified under the circumstances.

Jerome Kagan

A developmental psychologist known for his work on temperament and the role it plays in emotional and psychological development.

Consciousness

The state of being awake and aware of one's surroundings and one's own thoughts and feelings.

Critical Decisions

Decisions that are highly important and can have significant consequences on the outcome of a situation or the future of an individual or organization.