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A characteristic common to partnership and sole proprietorship is

Economics
JAMB 2006

A characteristic common to partnership and sole proprietorship is

  • A. limited liability
  • B. accessibility to loan
  • C. transferability of shares
  • D. unlimited laibility
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Correct Answer: Option D
Explanation

In both partnerships and sole proprietorships, the owners face unlimited liability, meaning they are personally responsible for all debts and obligations of the business.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
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