Ask Question
BusinessBusiness
27 August, 18:40

Characteristics of a general partnership include all of the following except:

a. Unlimited liability.

b. Mutual agency.

c. Voluntary association.

+3
Answers (1)
  1. 27 August, 19:03
    0
    c. Voluntary association.

    Explanation:

    The general partnership is an agreement between two or more persons who agrees to share the profit or losses in their profit losses sharing ratio. Plus every person is liable to pay the debt for conducting the business activities

    The person we called the partners. In this, the liabilities of the partners are unlimited plus they have entered into an agreement with mutual consent.

    Hence, the correct answer is c. voluntary association
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Characteristics of a general partnership include all of the following except: a. Unlimited liability. b. Mutual agency. c. Voluntary ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
When computing economic growth, changes in nominal gross domestic product (GDP) must be adjusted to reflect changes in the price level because:
Answers (1)
A request for quotation that asks for a "brand or equal": Group of answer choices is one way internal users ensure that they will get the brand they prefer. is the least risky and lowest cost approach to attaining "best value.
Answers (1)
Lynn, a company owner, looks at her financial statements. She wants to know how much the cash balance contributed to total assets on the balance sheet. What would you suggest
Answers (1)
Collingwood Homes has a bond issue outstanding that pays an 8.5 percent coupon and has a yield to maturity of 9.16%. The bonds have a par value of $1,000 and a market price of $944.30. Interest is paid semiannually.
Answers (1)
A company's board of directors votes to declare a cash dividend of $1.00 per share on its 12,000 common shares outstanding. The journal entry to record the payment of the cash dividend is:
Answers (1)
New Questions in Business
A business firm's interaction with the environment is a characteristic of an open system true or false
No Answers
Reynaldo has purchased a home with an assessed value of $195,000. The property tax rate in his area is 1.9%. What is his monthly tax payment?
Answers (1)
Prior to the write off of a $500 customer account, Athena Company had the following account balances: Accounts receivable $19,600 Allowance for doubtful accounts 1,000 The net realizable value of the Accounts Receivable before and after the
Answers (1)
The most efficient distribution of pollution abatement is such that the: a. extent of pollution abatement is the same across all geographic regions. b. extent of pollution abatement is the same across all polluters. c.
Answers (1)
What is the future value of $11,600 invested for 17 years at 7.25 percent compounded annually?
Answers (2)
Home » Business » Characteristics of a general partnership include all of the following except: a. Unlimited liability. b. Mutual agency. c. Voluntary association.
Sign Up Forgot Password?