The partnership form of business organization
A) is a separate legal entity.
B) is a common form of organization for service-type businesses.
C) enjoys an unlimited life.
D) has limited liability.

Question

Quizplus · Accepted Answer

Partnership form of business organization is a common form of organization for service-type businesses, where two or more individuals operate the business together.

Answer: D 
 Partnership form of business organization does not have limited liability. Each partner is personally liable for the debts and obligations of the partnership, which means that their personal assets can be used to pay off the debts of the partnership.

The Partnership Form of Business Organization