All of the following are characteristics of a general partnership except:

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One of the defining characteristics of a general partnership is that partners have unlimited personal liability for the partnership's debts and obligations. This means that the partners can be held personally responsible for any financial losses incurred by the partnership. Therefore, limited liability is not a characteristic of a general partnership. Mutual agency, co-ownership of property, and limited life (which means that the partnership will dissolve upon the death, retirement, or withdrawal of one of the partners) are all characteristics of a general partnership.

All of the Following Are Characteristics of a General Partnership