A partnership:A) Is taxed the same as a corporation.B) Agreement defines whether the business income will be taxed like a partnership or a corporation.C) Terminates at the death of any general partner.D) Has less of an ability to raise capital than a proprietorship.E) Allows for easy transfer of interest from one general partner to another.

Question

A partnership:A)  Is taxed the same as a corporation.B)  Agreement defines whether the business income will be taxed like a partnership or a corporation.C)  Terminates at the death of any general partner.D)  Has less of an ability to raise capital than a proprietorship.E)  Allows for easy transfer of interest from one general partner to another.

Rachel Davis · Accepted Answer

Final Answer : C, Explanation :  A partnership typically dissolves upon the death of any general partner unless otherwise agreed upon in the partnership agreement.

Definitions

Learning Objectives

Learning Objectives

Related questions