Which of the following is not a characteristic of partnerships?
A) Limited life
B) Limited liability
C) Voluntary association
D) Mutual agency

Name: Which of the following is not a characteristic of partnerships? A) Limited life B) Limited liability C) Voluntary association D) Mutual agency
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Question

Quizplus · Accepted Answer

Limited liability is not a characteristic of partnerships. In partnerships, each partner is personally responsible for the debts and obligations of the partnership, which means they have unlimited liability.

Which of the Following Is Not a Characteristic of Partnerships