All of the Following Are Advantages of a General Partnership

question 64

Multiple Choice

All of the following are advantages of a general partnership, except:

• A) Unlimited liability
• B) Simplicity and ease of organization
• C) Increased ability to obtain capital
• D) Pooling of financial resources

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Definitions:

Lawsuit

A legal action brought by one party against another in a court of law, typically seeking a remedy for a wrong.

Negligence Per Se

A legal doctrine wherein an act is considered negligent because it violates a statute or regulation.

Assumption of the Risk

A legal theory in personal injury cases where the plaintiff is considered to have voluntarily accepted a known risk associated with an activity or condition, possibly limiting the defendant's liability.

Comparative Negligence

A principle of tort law that compares the negligence of the conflicting parties and apportions damages accordingly.