Which one of the following statements is correct?
a. A general partnership is legally the same as a corporation.
b. Income from both sole proprietorships and partnerships is taxed as individual income.
c. Partnerships are the most complicated type of business to form.
d. All business organizations have bylaws.
e. Only firms organized as sole proprietorships have limited lives.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Which one of the following statements is correct? a. A general partnership is legally the same as a corporation. b. Income from both sole ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
The term " twenty past four " is sometimes used in what?
Answers (1)
What are the five steps of Operations Risk Management
Answers (1)
The board of commissioners of the City of Hartmoore adopted a General Fund budget for the year ending June 30, 2017, that included revenues of $1,342,500, bond proceeds of $595,000, appropriations of $960,000, and operating transfers out of $532,500.
Answers (1)
When a company wants to determine how its operating, investing, and financial activities affect cash during an accounting period, it will have a prepared.
Answers (1)
The employees of Burger Prince enjoy their work very much. This is largely due to their manager. Violet, who is always sympathetic to the needs of her employees and is seldom un-cooperative.
Answers (1)
New Questions in Business
Pool Line is the manufacturer of a pool cleaning system that has been called by the pool construction industry, "the miracle we have waited a lifetime for." The cleaning system is very effective and recommended by all consumer magazines.
Answers (1)
Use the following example to answer the following questions: Imagine that Stella deposits $25,000 in currency (which she had been storing in her closet) into her checking account at the bank.
Answers (1)
Barr Corp. started a long-term construction project in 20X0. The following data relate to this project: Contract price $4,200,000 Costs incurred in 20X0 $1,750,000 Estimated costs to complete $1,750,000 Progress billings $900,000 Collections on
Answers (1)
Bob contributed a building with an adjusted basis to Bob of $50,000 and a fair market value of $150,000 subject to a mortgage of $120,000 in exchange for a 30 percent interest in the Alpha Partnership. Alpha will assume the mortgage on the building.
Answers (1)
Nareen is single, 68 years old, and reports the following in 2018: a. $12,000 alimony received (divorced in 2010) b. $82,520 Schedule C profit c. $3,500 SEP (self-employed pension) plan contribution d. $7,150 qualified dividends e.
Answers (1)