Which of the following partnership characteristics is an advantage?
A)Mutual agency
B)Ease of dissolution
C)Unlimited liability
D)Limited life

Question

Quizplus · Accepted Answer

Ease of dissolution is an advantage of a partnership because it allows for flexibility and the ability to easily end the partnership if necessary. Mutual agency allows each partner to act on behalf of the partnership, but it can also lead to potential legal issues. Unlimited liability means that each partner is personally responsible for the debts of the partnership, which can be a disadvantage. Limited life means that the partnership will end after a specified time or event, which can also be a disadvantage if the partners wish to continue working together.

Which of the Following Partnership Characteristics Is an Advantage