Which of the Following Is Not a Characteristic of a Partnership

question 9

Multiple Choice

Which of the following is not a characteristic of a partnership?

• A) The partnership itself pays no income taxes.
• B) It is easy to form a partnership.
• C) Any partner can be held personally liable for all debts of the business.
• D) A partnership requires written Articles of Partnership.
• E) Each partner has the power to obligate the partnership for liabilities.

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Definitions:

Organisation

A structured group of people who come together to achieve common goals, often characterized by a hierarchy of authority.

Miss Congeniality

A title awarded in beauty pageants and similar contests, typically given to the contestant deemed most friendly and likable by their peers.

Professional Image

The perception of competence and integrity that an individual or organization projects to others.

Permanent Job

A position of employment that is intended to last indefinitely and typically offers stability and benefits.