A disadvantage that is NOT peculiar to the partnership form of organization includes a.the interest of a partner in the partnership cannot be transferred without the consent of the other partners. b.termination of the partnership agreement, bankruptcy of the firm, or death of one of the partners dissolves the partnership.
A disadvantage that is NOT peculiar to the partnership form of organization includes a.the interest of a partner in the partnership cannot be transferred without the consent of the other partners. b.termination of the partnership agreement, bankruptcy of the firm, or death of one of the partners dissolves the partnership.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A disadvantage that is NOT peculiar to the
a.the interest of a partner in the partnership cannot be transferred without the consent of the other partners.
b.termination of the partnership agreement, bankruptcy of the firm, or death of one of the partners dissolves the partnership.
c.each partner is individually liable for all of the debts of the partnership.
d.the partners do not make the decisions that run the business.
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