Answer:
D. All partners have to agree with each other when making business decisions
Explanation:
Partnership refers to a form of business agreement wherein, two or more individuals agree to carry on a business and share it's risks and rewards in a specified profit sharing ratio as provided in the partnership deed.
Under general partnership, all partners are subject to unlimited liability which means in case of massive losses, partner's personal assets can be sold to repay partnership debts. Limited partnership restricts the liability of partners to the extent of capital contributed by them.
The advantages of limited partnership being,
easy and convenient to raise finance and investments in the form of new partners joining in.
partners are taxed individually, with respect to the profits they receive.
partners assume limited liability
no necessary participation required in the business of such partnership to receive a share in profits.
