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    College Accounting Study Set 2
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    Exam 17: Partnership
  5. Question
    Discuss the Following Characteristics of Partnerships
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Discuss the Following Characteristics of Partnerships

Question 29

Question 29

Essay

Discuss the following characteristics of partnerships:
a) Limited life
b) Mutual agency
c) Unlimited liability

Correct Answer:

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a) A partnership has a limited life. Whe...

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