Which of the Following Is True of a General Partnership

question 38

Multiple Choice

Which of the following is true of a general partnership?

• A)Each partner has all the privileges and risks of ownership.
• B)The income of a general partnership is subject to double taxation.
• C)Each partner's liability is limited to their contributed capital.
• D)When a general partner contributes a particular asset to the firm,he or she is considered the sole owner of the asset.

---

Definitions:

Extraneous Variable

A variable that is not the focus of a study but could influence the results if not controlled or accounted for.

Independent Variable

In a study, the variable that the researcher alters or adjusts to study its impacts on the dependent variable.

Dependent Variable

In experimental and statistical research, the variable being tested and measured, which is expected to change under the influence of the independent variable.

Artificial Settings

Environments created or manipulated by researchers to study behavior in controlled conditions, which may not perfectly mimic real-life situations.