Which of the following statements is correct?

Select one:

a.

A fast growth company would be more likely to set up a partnership for its business organization than would a slow-growth company.

b.

A major disadvantage of a partnership as a form of business organization is the high cost and practical difficulties of its formation.

c.

In a partnership, liability for other partners' misdeeds includes but is limited to the amount a particular partner has invested in the business.

d.

Partnerships have difficulties attracting capital in part because of the other disadvantages of the partnership form of business, including impermanence of the organization.

e.

Partnerships must be formed according to specific rules which include the filing of a formal written agreement with state authorities where the partnership does business.