Which of the Following Is True of a Partnership

question 75

Multiple Choice

Which of the following is true of a partnership?

• A)All partnership firms are public firms.
• B)Partnership firms have a limited life.
• C)The owners of the partnership have limited liabilities for the partnership's debts.
• D)The maximum loss an owner of a partnership can incur is the invested amount.

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Definitions:

Speeding

The act of driving a vehicle over the legal or safe speed limit prescribed by law.

Igniting

The act of setting something on fire or causing it to burn.

Criminal Act

An action that violates the laws of a jurisdiction and is punishable by the state.

Bribery

The offering, giving, receiving, or soliciting of something of value as a means of influencing the actions of an individual holding a public or legal duty.