Which of the following is a strong feature of partnership?
FINANCIAL
JAMB 1995
Which of the following is a strong feature of partnership?
- A. The life of the partnership is generally assumed to be indefinite
- C. The transfer of ownership interest is frequent and easy to accomplish
- B. The owners are liable personally for all debts of the business
- D. The partnership is complex to form because of many legal and reporting requirements
Correct Answer: B. The owners are liable personally for all debts of the business
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