A Partnership Must File Form 1065 Only If Its Income

question 91

True/False

A partnership must file Form 1065 only if its income exceeds $1,000.

---

Definitions:

Stockholder

An individual or entity that holds one or more shares of stock in a public or private corporation, thus owning a portion of the company.

Dividends

Payments made by a corporation to its shareholder members from the company's earnings.

Chief Accounting Officer

The Chief Accounting Officer (CAO) is a senior executive responsible for managing the accounting operations of an organization.

Controller

A senior position in a business responsible for overseeing the accounting operations and financial reporting.