Which of the Following Is an Advantage of a General

question 87

Multiple Choice

Which of the following is an advantage of a general partnership?

• A) It has an unlimited lifetime.
• B) Taxes are levied on a partnership and not on its owners.
• C) Expenses required for creating a partnership are low.
• D) Ownership interests are easily transferable.

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Definitions:

Unemployment Rate

The percentage of the labor force that is jobless and actively seeking employment, a key indicator of economic health.

Job Market

The market in which employers search for employees and employees search for jobs; it reflects the demand and supply of labor.

Equity

Fairness or justice in the way people are treated or in the distribution of resources; also refers to ownership interest in a company through stocks.

Sales Tax

A tax imposed by governments on the sale of goods and services, typically a percentage of the retail price.