Which of the Following Is a Characteristic of a Partnership

question 145

Multiple Choice

Which of the following is a characteristic of a partnership?

• A) Partnerships pay corporate income taxes.
• B) Partnerships are listed on a stock exchange.
• C) Partnerships are organized as corporations.
• D) Partners have co-ownership of the partnership's assets.

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Definitions:

Profit Margin

A financial metric that measures the degree to which a company or a business activity makes money, expressed as a percentage of revenue.

Sales

The transactions involving the exchange of goods or services for money, representing a critical source of revenue for businesses.

Net Income

This is the amount of profit left after all operating expenses, taxes, and interest are deducted from total revenues.

Taxes

Mandatory financial charges or levies imposed by a government on individuals or entities to fund public expenditures.