There Are Two Basic Types of Partners: ________ and _________

question 4

Short Answer

There are two basic types of partners: ________ and _________.
dormant; active
key; secondary
secret; open
general; limited
primary; secondary

---

Definitions:

Federal Income Tax

A tax levied by the federal government on individuals' and corporations' yearly income.

Payroll Tax

Taxes imposed on employers and employees, typically calculated as a percentage of the salaries that employers pay their staff.

Benefits Principle

A tax principle stating that those who benefit from government services should pay in proportion to the amount they benefit.

Ability-To-Pay

A principle in taxation that suggests taxes should be levied according to the taxpayer's ability to bear the tax burden.