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FINRA Series 7

Category - Series 7

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Which of the following pairs of corporation characteristics are easiest for a partnership to avoid?

business objective and centralized management
continuity of life of the business and limited liability
two or more associates and free transferability of assets
continuity of life of the business and transferability of assets

Explanation

Answer: D - continuity of life of the business and transferability of assets. Partnerships may seek to avoid continuance of the business life and asset transfer. The other choices are too important for partnerships to sacrifice.

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FINRA Series 7

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FINRA Series 7

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