All of the Following Are Advantages of the Partnership Form

question 175

Multiple Choice

All of the following are advantages of the partnership form of organization except

• A) unlimited liability.
• B) retention of profits.
• C) combined skills and knowledge.
• D) better access to capital and credit.
• E) ease of start-up.

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Definitions:

Industrial-Development Bond

Tax-exempt bonds issued by municipal or county governments to finance the development of industrial or commercial facilities, intended to create jobs and promote economic growth.

Revenue Bond

A type of municipal bond supported by the revenue from a specific project, such as a toll road or a public utility, rather than general taxes.

Tax Bracket

Categories at set intervals of income that determine the rate at which income is taxed, with the principle that as income increases, it is taxed at a higher rate.

Corporate Bond

A debt security issued by corporations to raise capital, promising to pay back the principal along with interest at a specified rate.