Which Statement Concerning the Partnership Form of Ownership Is Not

question 38

Multiple Choice

Which statement concerning the partnership form of ownership is not correct?

• A) Partnerships are subject to double taxation.
• B) Partnerships are simpler to form than a corporation.
• C) A partnership binds all partners to actions made by any individual partner acting on behalf of the company.
• D) Responsibility and expertise may be divided among partners.

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Definitions:

Organizational Standards

Established norms and guidelines within an organization that dictate the expected behavior and performance of its members.

Situational Model

A conceptual framework suggesting that the effectiveness of leadership styles varies depending on the context and the level of followers' readiness.

Level Of Development

The stage or phase in the growth or advancement of an entity, which can refer to individuals, organizations, or communities.

Delegating Behaviors

The practice of assigning responsibility and authority to others to complete tasks or make decisions, while maintaining accountability for the outcomes.