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:

Anticodons

Sequences of three nucleotides in tRNA that are complementary to codons in mRNA, ensuring the correct amino acids are incorporated in protein synthesis.

mRNA Codons

mRNA codons are sequences of three nucleotides on messenger RNA that specify a particular amino acid during protein synthesis, functioning as the genetic code for the primary structure of proteins.

RNA Anticodons

Sequences of three nucleotides in tRNA that are complementary to codons in mRNA, allowing for the addition of specific amino acids during protein synthesis.

Amino Acids

Organic compounds that combine to form proteins and are essential to many biological functions.