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which of the following option is not a feature of a partnership business?
Mutual agency
Limited liability
Limited life
Ease of formation
FEATURES OF PARTNERSHIP
1. Two or More Persons 2. Agreement 3. Lawful Business 4. Registration 5. Profit Sharing 6. Agency Relationship 7. Unlimited Liability 8. Not a Separate Legal Entity 9. Transfer of Interest
10. Mutual Trust and Confidence 11. Number of Partners 12. Profit Sharing 13. Principal-Agent Relationship 14. Joint Ownership 15. Ownership and Control 16. Registration 17. Duration 18. Capital and a Few Others.
By: SWAPNIL AGGARWAL ProfileResourcesReport error
Nonihal Pratap
Please check once as all the options including "limited liability" are correct as per Limited Liability Partnership Act, 2008
Features of Partnership business are covered in Partnership act 1932. Limited liability partnership is a different business concept
Pratap Ray
limited liability if mentioned in the deeds also a feature. Ease if formation is not mentioned at anywhere
limited liability is not a feature of Partnership act. LLP ACT, 2008 defined it
limited liability if mentioned in the deeds also a feature
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