Which of the following is recognized as a disadvantage of partnerships?
a. ease of formation
b. possible tax advantages
c. direct rewards
d. lack of continuity
ANSWER: b
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Independent auditors (CPAs) render an opinion that the financial statements do or do not fairly present a company's financial position, operating results, and cash flows
a. True b. False Indicate whether the statement is true or false
A short-form merger does not require the approval of the board of directors of the subsidiary corporation
Indicate whether the statement is true or false
Purchasing materials in higher volumes has the advantage of reducing ______.
a. unit cost of material b. costs associated with storing these materials c. avoiding the possibility of having a surplus of finished products d. price charged to customer
Revolutionary change is associated with ______.
A. deep structure B. periods of equilibrium C. both A and B D. neither A nor B