In Comparison to a Company, a Disadvantage of Operating as a Partnership

question 57

Multiple Choice

In comparison to a company, a disadvantage of operating as a partnership is:

• A)unlimited liability.
• B)limited life.
• C)mutual agency.
• D)all of the above.

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Definitions:

Good Business Decisions

Choices made by businesses that effectively address specific problems or opportunities with positive outcomes.

Appropriate Laws

Specific laws that are relevant and applicable to a particular situation or jurisdiction.

Legal Issues

Challenges or disputes arising under the framework of the law, requiring resolution through the legal system.

Sophisticated Clients

Clients who possess a high level of knowledge, experience, or resources, enabling them to make informed decisions about complex matters.