Which of these is an advantage of a partnership over a sole proprietorship?

Select one:

a.Mutual agency

b.Unlimited liability

c.Pooling of resources

d.Ease of transferring ownership

Which of these is an advantage of a partnership over a sole proprietorship?

Select one:

a.Mutual agency

b.Unlimited liability

c.Pooling of resources

d.Ease of transferring ownership

The legislation with the most significant influence on the formation, operation and dissolution of partnerships is the:

Select one:

a.Partnership Act.

b.Federal Partnership Act.

c.Partnership Formation, Operation and Liquidation Rules.

d.Common Partnership Program.

The relationship that exists between persons carrying on a business in common with a view to profit is referred to as a:

Select one:

a.proprietorship.

b.company.

c.partnership.

d.retailer.

Which of these is a not a disadvantage of operating as a partnership rather than as a company?

Select one:

a.Fewer disclosure requirements

b.Unlimited liability

c.Greater difficulty in selling a share of the business

d.Mutual agency

Which event would not result in the automatic dissolution of a partnership?

Select one:

a.The retirement of an old partner

b.The bankruptcy of a partner

c.A partner's illness

d.The admission of a new partner