Each Partner in a Partnership

question 31

Multiple Choice

Each partner in a partnership:

• A)shares in a jointly held capital account.
• B)pays his or her share of the partnership business profit tax.
• C)has co-ownership of the assets of the partnership.
• D)has limited liability for the debts of the business.

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Definitions:

Personality Inventory

A questionnaire designed to reveal aspects of an individual’s character or psychological makeup.

DSM-5

The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, a comprehensive classification of mental disorders published by the American Psychiatric Association.

Detachment

A state or process of being objectively disinterested or distanced from emotional involvement or personal interests.

Low Conscientiousness

A personality trait characterized by a lack of responsibility, organization, and reliability.