Which of the Following Is NOT a Characteristic of a Traditional

question 83

Multiple Choice

Which of the following is NOT a characteristic of a traditional partnership?

• A)If a partnership cannot pay its debts,lenders can take the owners' personal assets to satisfy the obligations.
• B)A partnership joins two or more individuals as co-owners.
• C)Each partner has the authority to commit the entire partnership to a binding contract.
• D)A partnership is owned by shareholders.

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Definitions:

Noncontributory

A social welfare program that does not require participants to have contributed to a specific fund in order to receive benefits from it.

Welfare

Government programs designed to assist individuals and families in meeting their basic needs, such as food, housing, and healthcare, often aimed at those living in poverty.

Bill Clinton

The 42nd president of the United States who served from 1993 to 2001, known for implementing policies that contributed to economic growth and stability.

Ronald Reagan

The 40th President of the United States, who served from 1981 to 1989 and was a key figure in the conservative movement.