Which of the Following Statements Best Describes a Partnership

question 57

Multiple Choice

Which of the following statements best describes a partnership?

• A)separate legal entity
• B)single owner
• C)most expensive to establish
• D)owners are responsible for debt of the company

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Definitions:

President's Budget

The President's Budget is a comprehensive proposal by the executive branch outlining the government's expected revenues, spending, and policies for the fiscal year.

Economic Report

A document or release that details the current state of the economy or analyzes economic indicators, trends, and policies.

Continuing Resolutions

Budget agreements that allow agencies, in the absence of an approved budget, to spend at the rate of the previous year’s budget.

Government Transfer Programs

Policies and initiatives where the government redistributes income through mechanisms such as social security, welfare, and unemployment benefits.