All of the Following Are Advantages of Partnerships Except One

question 131

Multiple Choice

All of the following are advantages of partnerships except one.Which is the exception?

• A)They are relatively easy to start.
• B)Their profits are taxed once as personal income.
• C)Their liability is limited by each partner's share of the business.
• D)They offer a greater opportunity for specialization by the owners.
• E)They enable continuation of the firm if one partner dies.

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Definitions:

Resource Conservation

Resource conservation involves managing natural resources to prevent depletion, ensuring sustainability and environmental protection for future generations.

Recovery Act

Refers to legislation aimed at promoting economic recovery, such as the American Recovery and Reinvestment Act of 2009 intended to stimulate the U.S. economy.

Environmental Protection Agency

A U.S. federal agency created for the purpose of protecting human health and the environment by enforcing regulations based on laws passed by Congress.

Safe Drinking Water Act

A federal law in the United States aimed at ensuring the quality of Americans' drinking water by regulating its sources and contaminants.