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Which of the following is NOT a characteristic of a partnership? Limited Life b. Limited Liability Ruled by State Laws Mutual Agency of partners A

Which of the following is NOT a characteristic of a partnership? Limited Life b. Limited Liability Ruled by State Laws Mutual Agency of partners A partnership requires partners. At least 2 Federal government approval c. More than 2 Can have 1 in certain cases 14. If partnership has no agreement, how should partners split their profits and losses In the ratio of their investments b. In the ratio of the work they contributed Equally

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