75. Which of the following is not a characteristic of most partnership? * A. Limited liability O B. Mutual agency

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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
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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