Select the correct answer in relation to partnerships:

Question $2$Answer

a$.$

Partners are not exposed to unlimited liability i$.$e$.,$ they are jointly and severally liable for the debts of the business.

b$.$

Each partner does not have the authority to enter into contracts or transactions on behalf of the partnership.

c$.$

The death or retirement of a partner is unlikely to have a negative impact on the cash flow of the entity.

d$.$

It can be difficult to keep the personal transactions of partners separate from the entity$$s business transactions.