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.

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Definitions:

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The process through which individuals attempt to control the perceptions others have of them, often through strategic self-presentation tactics.

Firefighters

Emergency response personnel trained to deal with fire suppression, rescue operations, and hazardous situations.

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The feelings, emotions, and mood aspects that contribute to an individual's psychological state.

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A compelling attractiveness or charm that can inspire devotion or enthusiasm in others.