Question: A partnership with four general partners: Multiple Choice has an unlimited life. distributes profits based on percentage of ownership. limits each partner's personal liability to

A partnership with four general partners:
Multiple Choice
has an unlimited life.
distributes profits based on percentage of ownership.
limits each partner's personal liability to 25 percent of the partnership's total debt.
limits the active involvement in the firm to a single partner.
must distribute 25 percent of the profits to each partner.

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