One drawback to a partnership is that it
A) is subject to double taxation.
B) generally has more access to capital than the sole proprietor.
C) has unlimited liability for each of the partners.
D) generally has more management expertise than the sole proprietorship.
C
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Quotations are any phrases or concepts that you take from any of your sources
Indicate whether the statement is true or false.
An individual donor gave a gift to the American Red Cross (ARC) to provide clothing for individuals who lost their homes due to a flood. At the same time, a local foundation provided the ARC funds to develop plans for a new housing subdivision away from the flood zone. The individual donor’s gift is an example of ______, while the foundation’s gift is an example of ______.
A. charity; philanthropy B. a grant; an annual fund C. bequest; planned giving D. entrepreneurship; a trust
Which of the following is a provision made under the Berne Convention?
A) The treaty makes it mandatory to place the copyright symbol on all copyrighted works. B) The treaty sets the rules for how copyright can be dealt with when sharing copyrighted work between governments. C) The treaty eliminates the need to place the copyright symbol or the word "copyright" on a copyrighted work. D) The treaty stipulates the time period a copyright can be retained by the copyright holder before it enters the public domain.
In which of the following is an accommodation party primarily liable?
A) guarantee of payment B) guarantee of collection C) guarantee of demand D) guarantee of promise