Which of the Following Statements About Partnerships Is Most Accurate

question 257

Multiple Choice

Which of the following statements about partnerships is most accurate?

• A) A partnership is a corporation with fewer than 100 owners.
• B) A major advantage of a partnership is that it offers all owners limited liability.
• C) A major drawback of a partnership is that it is difficult to terminate.
• D) Partnerships are taxed at the lowest corporate tax rate.

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Definitions:

Random Sample

A subset of individuals chosen from a larger population, where each member has an equal chance of being selected, ensuring the sample's representativeness.

Large Group

A social grouping that is too large for all members to maintain direct acquaintance and interaction, typically requiring formal structures for communication and decision-making.

Equal Chance

The principle that every individual or element in a sample or population has an identical likelihood of being chosen for something, commonly associated with random selection or assignment.

Government Food Vouchers

Financial assistance programs provided by governments to help low-income families purchase food and other essentials.