Which One of the Following Is Not True About Partnerships

question 24

Multiple Choice

Which one of the following is not true about partnerships?

• A)There must be two or more owners.
• B)General partners assume more risk of legal liability than limited partners.
• C)An LLC limits certain liability risks.
• D)A partnership is taxed like a corporation.
• E)All of these are true

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Definitions:

New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939 in response to the Great Depression.

First Hundred Days

Often refers to the beginning period of a presidential term in the United States, where the administration's goals, plans, and achievements are closely watched and assessed.

White Supremacist South

Refers to the historical period and ideological stance in the southern United States that promoted white dominance and racial segregation.

Northern African-Americans

African-American individuals or communities residing in the northern regions of the United States, often associated with migration patterns such as the Great Migration.