Which of the Following Is Not an Advantage of a General

question 65

Multiple Choice

Which of the following is not an advantage of a general partnership?

• A) Business losses can be deducted against the partners' other sources of income.
• B) The skills and abilities of more than one individual are available to the firm.
• C) The liquidity of each partner's investment is low.
• D) Creating one is relatively easy and inexpensive compared to a C corporation or limited liability company.
• E) It is not subject to double taxation.

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Definitions:

TQM

Total Quality Management, a management approach focused on long-term success through customer satisfaction, involving all members of an organization in improving processes, products, services, and culture.

Deming Approach

A management philosophy focused on quality improvement through continuous refinement and employee involvement, based on the ideas of W. Edwards Deming.

Profound Knowledge

Deep, comprehensive understanding of a subject or field, often resulting from years of study and experience.

Check Sheet

A structured, prepared form for collecting and analyzing data; a simple data recording tool used for quality control purposes.