Which of the following is NOT a characteristic of a partnership?
A) The partners have limited liability for the debts of the partnership.
B) The partnership pays no separate business profit tax.
C) Each partner has a separate capital account.
D) Each partner has mutual agency.
Correct Answer:
Verified
Q1: Arlene Dominic is a partner in a
Q3: Steve owns 62% and Mark owns 38%
Q4: Dana and Emile allocate 2/3 of the
Q5: In a partnership business,George has an ownership
Q6: Rodriguez and Ying start a partnership
Q7: Felix and Ian allocate 2/5 of the
Q8: Each partner in a partnership:
A)shares in a
Q9: Which of the following BEST describes the
Q10: Tim and Michelle have decided to form
Q11: Albert,Billy and Cathy share profits and losses
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents