Which of the Following Is a TRUE Statement About the Characteristics

question 9

Multiple Choice

Which of the following is a TRUE statement about the characteristics of partnerships?

• A)In a limited liability partnership, all partners have limited liability for the partnership's debts.
• B)General partnerships have mutual agency and limited liability for the partnership's debts.
• C)Income and losses of the partnership "flow through" to the partners.
• D)The partnership agreement must be in writing.

---

Definitions:

Control Variable

In research, a variable that is held constant to test the relative impact of an independent variable on a dependent variable.

Association

A connection or relationship between two or more variables, where changes in one variable correspond to changes in another.

Mean

In statistics, it is the arithmetic average of a set of numbers, calculated by adding them all up and dividing by the number of numbers.

Exceptionally High

Significantly surpassing the usual or average level, often in a way that is rare or unparalleled.