Income Taxes to a Partnership

question 37

Multiple Choice

Income taxes to a partnership:

• A)Are an obligation of the partnership.
• B)Are an obligation to each partner only when cash is received.
• C)Are an obligation to each partner based on their share of profits.
• D)Are not an obligation to each partner since a partnership does not pay tax.

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Definitions:

Behavioral Approach

A theory focusing on observable behaviors and the ways in which learning influences behavior.

Task Behaviors

Actions taken by leaders focusing on the work to be done, goals to be achieved, and methods to accomplish these tasks.

Relationship Behaviors

Actions taken by individuals within an organization that affect the nature of interpersonal interactions, including communication, trust building, and conflict resolution.

Skills

The ability to do something well, often acquired or learned through practice, experience, or education.