Which One of the Following Statements Is Correct

question 42

Multiple Choice

Which one of the following statements is correct?

• A) Both partnerships and corporations incur double taxation.
• B) Both sole proprietorships and partnerships are taxed in a similar fashion.
• C) Partnerships are the most complicated type of business to form.
• D) Both partnerships and corporations have limited liability for general partners and shareholders.
• E) All types of business formations have limited lives.

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Definitions:

External Adaptation

The process through which organizations or individuals adjust to changes in their external environment to survive and thrive.

Subculture

A cultural group within a larger culture, often having beliefs or interests that differ from those of the larger culture.

Internal Integration

Internal integration deals with the creation of a collective identity and with ways of working and living together.

Specific Targets

Clearly defined goals or objectives that are intended to be achieved within a set timeframe.