Emilio, Rafael, and Trey have been friends since elementary school. After graduating from college with degrees in accounting, they started a partnership for the purpose of providing tax preparation, accounting, and auditing services to the public. By the end of the first year, the partners had several disagreements regarding the division of labor, the size of accounts they should seek, and whether to provide certified audits or reviewed statements only. Which of the following best characterizes the problem they are experiencing?

Group of answer choices

Unlimited liability

Management disagreements

Combined business skills and knowledge

Lack of continuity

Frozen investment