Identify Which of the Following Statements Is True

question 34

Multiple Choice

Identify which of the following statements is true.

• A)Formation of a partnership requires legal documentation.
• B)An individual engaged in the active conduct of a business must elect not to be taxed as a partnership.
• C)A partnership exists as long as there are at least two individuals or entities engaged in the active conduct of a trade or business or a financial operation, and the business is not a trust or a corporation.
• D)All of the above are false.

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Definitions:

Text Highlight Color

A feature in text editing and word processing applications that allows users to change the background color of selected text for emphasis or organization.

Redo Button

A feature in software applications that reverses the last undo action, allowing users to reapply changes they had previously reversed.

Quick Access Toolbar

A customizable toolbar in Microsoft Office programs that provides convenient access to frequently used commands.

Change Case Button

A feature in word processing software that allows users to quickly change the case of selected text to uppercase, lowercase, title case, etc.