(a)Describe the advantages of carrying on business as a partnership as opposed to a limited liability company. (10 marks)
(b)You have been asked to draft a partnership deed for a small retail firm of five partners. State the matters, if any, that you will omit from the partnership deed on the basis that they are implied by the Partnership Act (Cap 29) Laws of Kenya. (10 marks)
(Total: 20 marks)
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