75. Which of the following is not a characteristic of most partnership? * A. Limited liability O B. Mutual agency
75. Which of the following is not a characteristic of most partnership? * A. Limited liability O B. Mutual agency
Chapter1: Financial Statements And Business Decisions
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Transcribed Image Text:75. Which of the following is not a
characteristic of most partnership? *
A. Limited liability
B. Mutual agency
C. Ease of formation
D. Limited life
76. An advantage of the partnership
as a form of business organization
would be *
A. Partners do not pay income taxes on
their share in. partnership income.
B. A partnership is bound by the act of the
partners.
C. A partnership is created by mere
agreements of the partners.
D. A partnership may be terminated by the
death or withdrawal of a partner
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