Which One of the Following Is Not True About Partnerships

question 58

Multiple Choice

Which one of the following is not true about partnerships?

• A)There must be two or more owners.
• B)General partners assume more risk of legal liability than limited partners.
• C)An LLC limits certain liability risks.
• D)A partnership is taxed like a corporation.
• E)All of the above are true.

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Definitions:

Fort Pillow

The site of the Fort Pillow massacre during the American Civil War, where Confederate forces killed numerous African American Union soldiers after they had surrendered.

Confederate Army

The military land forces of the Confederate States of America during the American Civil War, fighting against the Union.

Brutal Treatment

Describes the harsh and inhumane conditions or actions imposed on individuals, particularly slaves or workers, by those in power or authority.

Emancipation Proclamation

A presidential executive order issued by Abraham Lincoln in 1863 declaring the freedom of all slaves in Confederate territory during the American Civil War.