Which of the following is a not a disadvantage of operating as a partnership rather than as a company?
A) Fewer disclosure requirements
B) Greater difficulty in selling a share of the business.
C) Personal liability for all obligations of the partnership.
D) Partners can act on behalf of the other partners and bind them to a contract by acting within the apparent scope of the business.

Question

Quizplus · Accepted Answer

A disadvantage typically refers to a negative aspect or drawback of a particular option. However, in this case, all of the options listed are disadvantages of operating as a partnership except for option A, which states that there are fewer disclosure requirements in a partnership compared to a company. Fewer disclosure requirements can actually be seen as an advantage for some partnerships as it means they can maintain more privacy and confidentiality.

Which of the Following Is a Not a Disadvantage of Operating