One of the Advantages of a Partnership Is

question 7

Multiple Choice

One of the advantages of a partnership is:

• A) Unlimited liability of partners for the debts of the partnership
• B) Avoiding double taxation of business profits
• C) The business has an indefinite life, not related to the lives of the partners.
• D) It is easy for a partner to sell his or her interests without the permission of other owners.

---

Definitions:

Pension Plan

An arrangement for retirement that mandates contributions by an employer to a reserved fund aimed at providing for an employee's needs in the future.

Sales

The exchange of goods or services for money, constituting the primary revenue source for most businesses.

Payroll Tax Expense

Taxes that are incurred by employers or employees based on salaries and wages, often covering Social Security and Medicare taxes.

Social Security Rate

The percentage of income that employees and employers are required to contribute to a country's social security programs.