Question
Which of the following is a characteristic of general partnerships?(1 point)
Responses
One person is the owner of a general partnership.
One person is the owner of a general partnership.
The partnership has limited life.
Responses
One person is the owner of a general partnership.
One person is the owner of a general partnership.
The partnership has limited life.
Answers
GPT-4o mini
The characteristic of general partnerships from the options provided is:
**The partnership has limited life.**
In a general partnership, the partnership typically exists as long as the partners agree to continue, but it can be dissolved upon the death, withdrawal, or bankruptcy of any partner, which characterizes it as having a limited life.
**The partnership has limited life.**
In a general partnership, the partnership typically exists as long as the partners agree to continue, but it can be dissolved upon the death, withdrawal, or bankruptcy of any partner, which characterizes it as having a limited life.