Identify Which of the Following Statements Is True

question 34

Multiple Choice

Identify which of the following statements is true.

• A)Formation of a partnership requires legal documentation.
• B)An individual engaged in the active conduct of a business must elect not to be taxed as a partnership.
• C)A partnership exists as long as there are at least two individuals or entities engaged in the active conduct of a trade or business or a financial operation, and the business is not a trust or a corporation.
• D)All of the above are false.

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Definitions:

Aadhaar's Information

Pertains to personal and biometric data linked to Aadhaar, a 12-digit unique identity number issued to Indian residents based on their biometric and demographic data.

Social Mobility

The movement of individuals, families, or groups through a system of social hierarchy or stratification.

Tax Collection

is the process undertaken by governments or authorized entities to collect taxes from individuals and businesses as required by law.

Accessibility Issue

Challenges faced by individuals with disabilities when interacting with digital content, buildings, or services due to design limitations.