Question
Which of the following is true of a General Partnership?
A- Each partner has Mutual Agency.
B- Each partner is only taxed for their share of the profits.
C- Only the person establishing the partnership is liable for the debts of the company
D- The partnership is double taxed by the government as both an individual and a corporation.
A- Each partner has Mutual Agency.
B- Each partner is only taxed for their share of the profits.
C- Only the person establishing the partnership is liable for the debts of the company
D- The partnership is double taxed by the government as both an individual and a corporation.
Answers
GPT 3.5
A- Each partner has Mutual Agency.
Related Questions
Which of the following is a characteristic of general partnership?
A. One person is the owner of...
Which of the following is true of a General Partnership(1 point)
Responses
Each partner has Mutu...
Which of the following is true of a General Partnership(1 point) Responses Each partner is only taxe...
Which of the following is a characteristic of general partnerships? (1 point)
The partners have l...