Which One of the Following Statements Is Correct

question 8

Multiple Choice

Which one of the following statements is correct?

• A)A general partnership is legally the same as a corporation.
• B)Both sole proprietorship and partnership income is taxed as individual income.
• C)Partnerships are the most complicated type of business to form.
• D)All business organizations have bylaws.
• E)Only firms organized as sole proprietorships have limited lives.

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Definitions:

Hydrocarbon Vents

Fissures located on the ocean floor from which hydrocarbons, such as methane, are released, often associated with unique ecosystems that thrive in extreme conditions.

Methane Levels

The concentration of methane gas in a certain environment, which is a concern due to its impact on climate change.

Oxygen Levels

The concentration of oxygen in a particular environment, crucial for respiratory processes of living organisms.

Psychological World

Refers to the domain concerning the mind and behavior, encompassing mental processes and emotional experiences.