A Partnership with Four General Partners

question 12

Multiple Choice

A partnership with four general partners:

• A) distributes profits based on percentage of ownership.
• B) has an unlimited partnership life.
• C) limits the active involvement in the firm to a single partner.
• D) limits each partner's personal liability to 25 percent of the partnership's total debt.
• E) must distribute 25 percent of the profits to each partner.

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