Which of the Following Statements Regarding Partnerships Is True

question 18

Multiple Choice

Which of the following statements regarding partnerships is true?

• A)Partnerships have two owners.
• B)The partnership ends when a new partner is added.
• C)The partnership is responsible for its own taxes.
• D)The partnership is a separate legal entity from its owners.

Understand the importance of timely response to customer interactions on social media platforms.

Understand the various legal structures available for businesses and their formation process.

Identify the implications of different legal structures on taxation and liability.

Recognize the importance of compliance with legal requirements for business operations.

---

Definitions:

Distribution Factors

The elements that influence the distribution of goods from manufacturers to consumers, including transportation, warehousing, and retail channels.

Marketing Concept

A philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition.

Think Global

A business approach that considers the international implications of corporate decisions and strategies.

Consumer Wants

The desires or needs that drive individuals to purchase products or services.