All of the Following Are Advantages of a General Partnership

Multiple Choice

All of the following are advantages of a general partnership EXCEPT

A) Similar to a sole proprietorship in that there is personal responsibility for all debt and liabilities incurred by the sport facility including tax liability
B) The liabilities are shared by the partners based on the percent of ownership each partner has in the sport facility.
C) Stronger top management structure, as multiple owners bring multiple strengths to the business - and often one partner's strength is another partner's weakness.
D) Created under the laws and regulations of governmental authority by obtaining a charter authorizing them as a legal body where the powers, rights, authority, and liabilities of the entity are distinct from the partners.