All of the Following Are Advantages of Partnerships Except One

question 172

Multiple Choice

All of the following are advantages of partnerships except one. Which of the following is the exception?

• A) They are relatively easy to start.
• B) Their profits are taxed only once as personal income.
• C) Their liability is limited by each partner's share of the business.
• D) They offer a greater opportunity for specialization by the owners.
• E) They enable continuation of the firm if one partner dies.

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Definitions:

Southern Strategy

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A term referring to scenarios or policies that are designed and implemented by a society's elite or ruling class, often serving their interests.