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Questions and Answers
What does a partnership allow?
What does a partnership allow?
- Sharing responsibility for a business (correct)
- Complete separation from a business
- Transfer of responsibility for a business
- Sole ownership of a business
Apart from profits, what else do partners share in a partnership?
Apart from profits, what else do partners share in a partnership?
- Work and responsibility (correct)
- Decision-making authority only
- Financial liabilities
- Tax obligations only
What is a key characteristic of a partnership?
What is a key characteristic of a partnership?
- Sharing potential losses (correct)
- Limited responsibility
- Individual ownership of profits
- Exemption from work
In a partnership, what do partners share in addition to ownership and profits?
In a partnership, what do partners share in addition to ownership and profits?
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What is a key feature of a partnership?
What is a key feature of a partnership?
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What is a potential aspect that partners in a partnership may share?
What is a potential aspect that partners in a partnership may share?
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