Examlex
Which of the following is not an advantage of a partnership?
Separate Legal Person
An entity, such as a corporation, that has legal rights and obligations independent of its owners or members, allowing it to enter into contracts and own property.
Vicariously Liable
Legal principle where one party is held liable for the actions of a subordinate or associate due to their relationship to the wrongdoer.
Shareholders
Individuals or entities that own one or more shares of stock in a corporation, giving them a proportionate interest in the company's earnings and assets.
Tax Advantages
Financial strategies or conditions that reduce the amount of tax payable to the government.
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