Which Statement Is TRUE About Partnerships

question 140

Multiple Choice

Which statement is TRUE about partnerships?

• A)A partnership is a taxpaying entity.
• B)General partnerships have mutual agency and limited liability.
• C)Individuals,corporations,partnerships,or other types of entities can be partners.
• D)A written partnership contract must exist.

---

Definitions:

Monroe Doctrine

A U.S. foreign policy doctrine declared in 1823, stating that further efforts by European nations to colonize land or interfere with states in North or South America would be viewed as acts of aggression, requiring U.S. intervention.

Nineteenth Century

A period extending from the year 1801 to 1900, marked by significant industrial, cultural, and political changes globally.

Colonial Governments

Administrations established in colonies to oversee and manage the territories on behalf of the colonizing country.

American Foreign Policy

The strategies and decisions made by the U.S. government in its interactions with other nations, focusing on national security, economic interests, and the promotion of American values.