Which of the following is NOT an advantage of a partnership?
A) Partners' income taxes may be less than the income taxes would be on a corporation.
B) Each partner has limited liability.
C) It is possible to bring together more managerial skills than in a sole proprietorship.
D) It is possible to bring together more capital than in a sole proprietorship.

Question

Quizplus · Accepted Answer

In a partnership, each partner typically has unlimited liability, meaning they are personally responsible for the debts and obligations of the business, unlike in a corporation where shareholders have limited liability.

Which of the Following Is NOT an Advantage of a Partnership