Which of the following is NOT a characteristic of a partnership arrangement?

A partnership arrangement is typically characterized by joint efforts and shared responsibilities among partners, which includes joint liability for debts and shared profits and losses. Collaboration in business activities is also a defining feature, as partners work together to achieve common goals and objectives.

The notion of a single decision-maker contrasts sharply with the fundamental nature of a partnership. In a partnership, decision-making is usually a collaborative process involving input from all partners, rather than being directed by one singular individual. This shared governance model fosters equity and responsibility, allowing all partners to contribute their perspectives and expertise to the decision-making process. Therefore, the presence of a single decision-maker does not align with the characteristics of a partnership, making it the correct answer in identifying what is NOT a characteristic of such an arrangement.