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#1 2018-08-07 03:39:59

Ibraheem
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Which of the following is true about a partnership?

Accounting Quizzes Financial Accounting Exam MCQs

Question:
Which of the following is true about a partnership?

Option A):
All partners are personally liable for the debts of the business.
Option B):
All partners have invested an equal amount of capital.
Option C):
A partnership requires at least three people.
Option D):
Partnerships do not get favourable tax treatment compared to corporations.

Correct Answer is Option A):
All partners are personally liable for the debts of the business.

2018-08-07 03:39:59

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