Which of the following is not a characteristic of a partnership firm?
A partnership firm has no separate legal personality distinct from its partners, so "After agreement between the partners, partnership becomes a legal person" is not a…
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Which of the following is not a characteristic of a partnership firm?
Answer and explanation
Correct answer B
A partnership firm has no separate legal personality distinct from its partners, so "After agreement between the partners, partnership becomes a legal person" is not a characteristic of a partnership firm, whereas formation by agreement, unlimited liability and each partner's implied authority as agent are.
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