Multiple Choice
Which of the following are disadvantages of a partnership?
I. Limited life of the firm
II. Personal liability for firm debt
III. Greater ability to raise capital than a sole proprietorship
IV. Lack of ability to transfer partnership interest
A) I and II only
B) III and IV only
C) II and III only
D) I, II, and IV only
E) I, III, and IV only
Correct Answer:
Verified
Correct Answer:
Verified
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