Which One of the Following Applies to a General Partnership

question 44

Multiple Choice

Which one of the following applies to a general partnership?

• A)The firm's operations must be controlled by a single partner.
• B)Any one of the partners can be held solely liable for all of the partnership's debt.
• C)The profits of the firm are taxed as a separate entity.
• D)Each partner's liability for the firm's debts is limited to each partner's investment in the firm.
• E)The profits of a general partnership are taxed the same as those of a corporation.

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