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Which of the following is a characteristic of a partnership?

Practice Questions

1 question
Q1
Which of the following is a characteristic of a partnership?
  1. Limited liability for all partners
  2. Shared profits and losses
  3. Unlimited lifespan
  4. Separate legal entity

Questions & Step-by-step Solutions

1 item
Q
Q: Which of the following is a characteristic of a partnership?
Solution: In a partnership, profits and losses are shared among the partners according to their agreement.
Steps: 0

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