Which of the following are characteristics of a general partnership?

$\begin{array}{llcc}
& &\text {Liability} &\text { Life} \\end{array}$
A) $\begin{array}{llcc}&\text { Limited }& \text {Limited} \\end{array}$
B)$\begin{array}{llcc} &\text { Limited }& \text {Perpetual} \\end{array}$
C) $\begin{array}{llcc}& \text {Unlimited }& \text {Limited} \\end{array}$
D) $\begin{array}{llcc}&\text { Unlimited }& \text {Perpetual}
\end{array}$

Question

Which of the following are characteristics of a general partnership?

$\begin{array}{llcc} 
& &\text {Liability} &\text { Life} \\end{array}$
A) $\begin{array}{llcc}&\text { Limited }& \text {Limited} \\end{array}$
B)$\begin{array}{llcc} &\text { Limited }& \text {Perpetual} \\end{array}$
C) $\begin{array}{llcc}& \text {Unlimited }& \text {Limited} \\end{array}$
D) $\begin{array}{llcc}&\text { Unlimited }& \text {Perpetual}
\end{array}$

Quizplus · Accepted Answer

In a general partnership, partners have unlimited liability, meaning they are personally responsible for the debts of the business. The life of the partnership is limited in that it can end with the withdrawal or death of a partner, unless otherwise agreed upon.

Which of the Following Are Characteristics of a General Partnership Liability Life\begin{array}{llcc} & &\text {Liability} &\text { Life} \\\end{array}​​Liability​ Life​

Which of the Following Are Characteristics of a General Partnership $\begin{array}{llcc} & &\text {Liability} &\text { Life} \\\end{array}$