The LLC and a partnership firm are common in most of their characteristics.
What is a partnership firm?
A firm where two or more persons conduct legal businesses and share the profits earned thereto as per their understandings is a partnership firm.
The liability of the partners in such a firm is limited up to the share of their capital. Moreover, there exists a vicarious liability among the partners. Similar features are of a Limited Liability Corporation.
Hence, option D holds true of a partnership firm.
Learn more about a partnership firm here:
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