Comparing Proprietorships with Partnerships, Which Is True

question 70

Multiple Choice

Comparing proprietorships with partnerships, which is true?

• A) In both cases, profits are taxed only once.
• B) Partnerships outnumber proprietorships 2-to-1 in the United States.
• C) Proprietorships generally end with the death of the owner, but partnerships continue as long as at least one partner survives.
• D) A proprietor faces unlimited liability for her firm's debts, but in a partnership each partner is only responsible for an even share of the firm's indebtedness.

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Definitions:

Weak Id

A Freudian concept that suggests an underdeveloped or inefficient id, leading to poor impulse control and difficulty satisfying basic desires.

Weak Ego

A condition characterized by a lack of self-esteem and inability to cope with demands, leading to poor decision-making.

Strong Id

A term that might refer to an individual with a dominant id according to Freudian psychology, characterized by impulsive and unconscious desires.

Oedipus Complex

A Freudian theory positing that a child experiences unconscious desires for their opposite-sex parent and jealousy and rivalry toward their same-sex parent.