Which of the Following Does Not Apply to a Partnership

question 35

Multiple Choice

Which of the following does not apply to a partnership?

• A)It must prepare an annual tax return
• B)It must apply for an ABN
• C)It must register the business name
• D)It must prepare financial statements according to the AASB accounting standards

---

Definitions:

Negatively Affects

Leads to adverse consequences or reduces the quality or performance of something.

Air Traffic

The movement of aircraft within the air space controlled by various authorities, including commercial, private, and military flights.

Perfectly Competitive

A market structure characterized by many sellers offering identical products, leading to price determination through supply and demand forces without individual control.

Externalities

Economic side effects or consequences that affect an uninvolved third party; can be either positive or negative.