Which of the following is NOT an advantage of a partnership?
A) Partners' income taxes may be less than the income taxes would be on a corporation.
B) Each partner has limited liability.
C) It is possible to bring together more managerial skills than in a sole proprietorship.
D) It is possible to bring together more capital than in a sole proprietorship.

Question

Quizplus · Accepted Answer

Partners in a partnership do not have limited liability, which means that they are personally responsible for the debts and obligations of the business.

Which of the Following Is NOT an Advantage of a Partnership