Which of the Following Is True of Partnerships as Entities

question 29

Multiple Choice

Which of the following is true of partnerships as entities?

• A) Partnerships are taxable entities and pay income taxes.
• B) A partner can unilaterally dispose of partnership property under both RUPA and UPA.
• C) A partnership cannot be involuntarily thrust into a bankruptcy proceeding.
• D) A partnership may keep business records as if it were a separate entity.
• E) Under RUPA, a partnership does not have entity characteristics.

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Definitions:

Unconstitutionality

The state of being in violation of a constitution, especially pertaining to laws, regulations, or government actions.

O'Connor v. Donaldson

A landmark legal case in which the U.S. Supreme Court ruled that a state cannot constitutionally confine a non-dangerous individual capable of surviving safely in freedom by themselves or with the help of willing and responsible family members or friends.

Involuntarily Hospitalized

The act of admitting an individual to a healthcare facility without their consent, typically because they are deemed a threat to themselves or others.

Self-administer Medication

The practice of individuals taking medication independently, without direct supervision by healthcare professionals.