In a Partnership Form of Organization, Income Tax Liability, If

question 48

Multiple Choice

In a partnership form of organization, income tax liability, if any, is incurred by:

• A)the partnership itself.
• B)the partners individually.
• C)Both the partnership and the partners.
• D)Neither the partnership nor the partners.

---

Definitions:

Target Audience

The specific group of consumers or individuals to whom a particular advertisement, campaign, or piece of content is directed.

Strategic Plan

A systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.

Conduct Research

The systematic investigation into and study of materials, sources, or subjects in order to establish facts and reach new conclusions.

Implementation

The process of putting plans, policies, or strategies into action to achieve predetermined goals.