Which of the Following Are Disadvantages of the Partnership Form

question 129

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:

Buffer Solution

A solution that can resist changes in pH when small quantities of an acid or base are added, maintaining a relatively constant pH.

pH

A measurement system that identifies whether an aqueous solution is acidic or alkaline, with values extending from 0 (indicative of acidity) to 14 (signifying basicity).

Components

Individual parts or substances that constitute a composite material or mixture.

pH

A measure of the hydrogen ion concentration in a solution, indicating its acidity or alkalinity on a scale of 0 to 14.