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Which of the following is not the characteristics of a partnership? 1 . The business is a separate legal entity. 2 . The business is

Which of the following is not the characteristics of a partnership?

1 .

The business is a separate legal entity.

2 .

The business is easy and cheap to establish

3 .

Profits may be taxed at higher rates than a company

4 .

The business has a mutual agency

5 .

The business has the benefit of shared knowledge, resources and skills

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