You Have Received Your Advanced Degree in Biochemistry with a Specialty

question 220

Multiple Choice

You have received your advanced degree in biochemistry with a specialty in recombinant DNA technology. Your colleagues wish to form a partnership to research adenovirus vectors. Your legal counsel advises you on the following aspects of a partnership, yet you tell her, based on your knowledge of economics, that you think one of the following points is INCORRECT.

• A) An advantage of the partnership would be that it is relatively easy to form, almost as easy as forming a proprietorship.
• B) The income of the partnership is treated as personal income and is subject only to personal taxation rates.
• C) The personal assets of each partner should be safe and would not necessarily be at risk due to claims by financial institutions.
• D) Partnerships often help reduce the costs of monitoring job performance in situations in which it is difficult to measure objectively.

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