Which of the Following Statements About Partnerships Is the Most

question 217

Multiple Choice

Which of the following statements about partnerships is the most accurate?

• A)A partnership is simply a corporation with fewer than 100 owners.
• B)A major advantage of a partnership is that it offers owners limited liability.
• C)A major drawback of a partnership is that it is difficult to terminate.
• D)Partnerships are taxed at the lowest corporate tax rate.

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Definitions:

Opportunity Cost

The expense incurred by not selecting the second-best choice when deciding between different options.

Tattoo

A method of altering one's appearance by embedding ink, dyes, and pigments, which can be either permanent or temporary, into the second layer of skin known as the dermis, to create a pattern or picture.

Avatar

A graphic representation of a user or the user's alter ego or character, often used in online forums, social media, and virtual reality spaces.

Resources

Assets, materials, and inputs used to produce goods and services; can be natural, human, or capital.