Which of the Following Forms of Business Organizations Does $\underline{\text{not}}$ Have the Pass-Through Feature of Income and Losses?
A)partnership
B)limited

question 102

Multiple Choice

Which of the following forms of business organizations does $\underline{\text{not}}$ have the pass-through feature of income and losses?

• A)partnership
• B)limited partnership
• C)S corporation
• D)corporation

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Definitions:

Adjusted Balances

Balances that have been modified to reflect corrections or adjustments, often related to accounting and financial statements.

Income Statement

A financial report that shows the revenue, expenses, and net income of a company over a specific period, highlighting its profitability.

Work Sheet

An informal document used by accountants to prepare and adjust financial statements.

Current Ratio

A financial ratio indicating a firm's capability to meet its short-term liabilities using its available assets.