Which One of These Is an Advantage of a General

question 4

Multiple Choice

Which one of these is an advantage of a general partnership?

• A)Limited life of the firm
• B)Personal liability for firm debt
• C)Greater ability to raise capital than a sole proprietorship
• D)Ease of transferring partnership interest
• E)Limited liability

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Definitions:

Marginal Analysis

An examination of the added benefits of an activity compared to the added costs incurred by that same activity.

Cell Phones

Portable electronic devices that allow users to make voice calls, send text messages, and access various digital services.

Total Profit

The total income a business earns after subtracting all expenses and costs associated with its operations.

Marginal Benefit

The added value or enjoyment a consumer gets from using an additional unit of a product or service.