Which of the Following Statements About a Partnership Is True

question 1

Multiple Choice

Which of the following statements about a partnership is true?

• A)Partnerships,like sole traders,are not regulated by statute.
• B)Due to ongoing disclosure requirements,secrecy is generally difficult to maintain.
• C)Partners have a heavier tax burden than a sole trader.
• D)Liability of partners for partnership debts is unlimited and personal.

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Definitions:

Voluntary Responses

Actions that are performed intentionally or with conscious control, often in contrast to reflexive or automatic responses.

Association

A connection or link between thoughts, ideas, or concepts, often used in psychology to explain memory and learning processes.

Punishers

Stimuli that follow a behavior and decrease the likelihood of that behavior being repeated in the future.

Unconditioned Stimuli

In classical conditioning, a stimulus that innately and instinctively elicits a reaction without any previous learning.