A Written Agreement Between Partners Is Called

question 89

Multiple Choice

A written agreement between partners is called:

• A) a general partnership agreement.
• B) articles of general partnership.
• C) articles of partnership.
• D) a general partnership compendium.
• E) a general partnership agreement, articles of general partnership, or articles of partnership.

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Definitions:

Fiscal Year-End

The last day of a company's accounting period, which is used for financial reporting and tax purposes, and can vary between organizations.

Automatic Extension

A provision allowing taxpayers to automatically extend their deadline for submitting tax returns or other required documents, without needing to provide a reason.

Return

A financial document summarizing an entity's income, deductions, and taxes owed over a specific period, often annually.

Subchapter S Election

A tax election made by small businesses to be taxed as a pass-through entity, avoiding double taxation.