In a Partnership Form of Organization,income Tax Liability,if Any,is Incurred

question 39

Multiple Choice

In a partnership form of organization,income tax liability,if any,is incurred by:

• A) the partnership itself.
• B) the partners individually.
• C) both the partnership and the partners.
• D) neither the partnership nor the partners.

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Definitions:

Data-entry Operators

Individuals responsible for inputting data into computer systems, often involving the transcription of information from paper formats.

Marginal Cost

The extra cost incurred from producing one additional unit of a good or service.

Marginal Product

The additional output that results from a one-unit increase in the input of a production factor, holding all other inputs constant.

Marginal Revenue Product

the additional revenue generated from using one more unit of a factor of production.