Advantages to Doing Business as a Partnership Include

question 25

Multiple Choice

Advantages to doing business as a partnership include

• A) partners do not need to pay income tax on their income from the partnership.
• B) the partnership has "flow through" taxation.
• C) the partnership is taxed as a separate entity and must pay all taxes.
• D) the partnership has double taxation.

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Definitions:

Enduring Traits

Stable and consistent characteristics that define an individual's personality over time.

Personality

The fusion of characteristics that outline an individual's distinctive personality.

Trait

A characteristic or quality that defines or distinguishes a person or thing.

Optimistic

Having a hopeful or positive outlook on the future, expecting the best possible outcome in any given situation.