Which of the following is a disadvantage of partnership firms? A) These are taxed at multiple levels: Which of the following is a disadvantage of partnership firms? A) These are taxed at multiple levels: corporate level and individual level. B) These have more difficulty in raising capital as compared to a sole proprietorship. C) These have a mutual agency which creates personal obligations for each partner. D) These cannot be dissolved without permission of SEC.

Which of the following is a disadvantage of partnership firms? A) These are taxed at multiple levels:

Which of the following is a disadvantage of partnership firms?

A) These are taxed at multiple levels:

corporate level and individual level.

B) These have more difficulty in raising capital as compared to a sole proprietorship.

C) These have a mutual agency which creates personal obligations for each partner.

D) These cannot be dissolved without permission of SEC.

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