Which of the Following Statements Is TRUE for a Limited

question 117

Multiple Choice

Which of the following statements is TRUE for a limited liability partnership?

• A)The partnership pays no federal income taxes.
• B)Only the limited partners pay federal income taxes on their shares of the partnership's profits.
• C)Only the general partner pays federal income taxes on his or her share of the partnership's profits.
• D)Only the members pay federal income taxes on their shares of the partnership's profits.

Recognize additional principles applicable to online content development beyond basic report writing.

Understand the purpose and types of business reports and their importance in organizational decision-making.

Learn the three-step writing process and its application in business communication.

Identify the characteristics of informational and analytical reports.

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Definitions:

Start Button

A graphical control element found in the taskbar of Microsoft Windows operating systems, which opens the Start menu to access programs, files, and settings.

Windows Desktop

A user interface provided by the Windows operating system, consisting of the background, icons for files and applications, and a taskbar.

Close Button

A graphical control element used to dismiss the current view, window, or dialog without making any changes.

Taskbar

A bar usually located at the bottom of the screen on operating systems, providing quick access to open applications and system notifications.