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Which of the following is a key characteristic of a general partnership?

Practice Questions

1 question
Q1
Which of the following is a key characteristic of a general partnership?
  1. Limited liability for all partners
  2. Equal management rights for all partners
  3. No formal agreement required
  4. Perpetual existence

Questions & Step-by-step Solutions

1 item
Q
Q: Which of the following is a key characteristic of a general partnership?
Solution: In a general partnership, all partners typically have equal management rights unless otherwise agreed.
Steps: 0

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