A Type of Partnership Called a ________ Acts Much Like

question 211

Multiple Choice

A type of partnership called a ________ acts much like a corporation and is traded on stock exchanges, but it is taxed like a partnership with profits passing through to the owners and taxed as the owner's personal income.

• A) limited partnership
• B) combined general partnership
• C) cooperative partnership
• D) master limited partnership

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Definitions:

Cash Register Receipts

Documents that record sales transactions and the amount of cash received, typically issued at the point of sale.

Department Supervisors

Individuals responsible for overseeing the operations of a specific department within an organization, managing employees and resources.

Restrictive Endorsement

A limitation placed on the use of a check or other negotiable instrument, specifying the conditions under which it can be transferred.

Blank Endorsement

A signature on a financial instrument, such as a check, that specifies no particular payee, allowing any holder of the instrument to cash or deposit it.