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A general partnership has which of the following characteristics? Each owner has unlimited liability for all firm debts. All the partners share in gains or
A general partnership has which of the following characteristics?
Each owner has unlimited liability for all firm debts.
All the partners share in gains or losses of the partnership.
It is always regulated by a formal partnership agreement.
Large amounts of cash can be raised easily.
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Financial and Managerial Accounting
Authors: Belverd E. Needles, Marian Powers, Susan V. Crosson
9th edition
1439037809, 978-1439037805
