One Common Reason for Partnerships to Convert to a Corporate

question 56

Multiple Choice

One common reason for partnerships to convert to a corporate form of organization is that the partnership:

• A)Faces rapidly growing financing requirements.
• B)Wishes to avoid double taxation of profits.
• C)Has issued all of its allotted shares.
• D)Agreement expires after ten years of use.

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Definitions:

Modified

Changed in form or character; not originally in its natural or intended state, often through human intervention.

Transcription

The act of transcribing a portion of DNA into RNA.

Translation

The process in molecular biology where ribosomes synthesize proteins using mRNA as a template.

Translation

In biology, translation is the process by which the genetic code carried by mRNA is decoded to produce the specific sequence of amino acids in a polypeptide chain.