Indicate whether each statement below is a reflection of an
(a) Advantage or a
(b) Disadvantage of the partnership form of business.
1. It is easy to form, change, and dissolve.
2. The life of a partnership is limited.
3. It gives the partners a certain amount of freedom and flexibility.
4. It is more difficult for a partnership to raise large amounts of capital and to transfer ownership interests than it is for a corporation.