Question:
Which of the following is NOT the characteristic of partnership?
Which of the following is NOT the characteristic of partnership?
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Remember, partnerships do not have the legal status of an "artificial person." They are not separate from the partners themselves.
Updated On: Apr 29, 2025
- Mutual Agency
- Profit Sharing
- Artificial Person
- Unlimited Liability
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The Correct Option is C
Solution and Explanation
Partnerships do not have the characteristic of being an "artificial person" as they are not separate legal entities. Mutual agency, profit sharing, and unlimited liability are characteristics of partnerships.
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