All of the following are advantages of partnerships except one.Which is the exception?
A)they are relatively easy to start
B)their profits are taxed once as personal income
C)their liability is limited by each partner's share of the business
D)a greater opportunity for specialization by the owners
E)a continuation of the firm if one partner dies

Question

Quizplus · Accepted Answer

Partnerships do not have limited liability like corporations, which means that each partner is personally liable for the debts and obligations of the business. This is the exception to the advantages listed, as the other options are all true advantages of partnerships.

All of the Following Are Advantages of Partnerships Except One