A major advantage of partnerships is that they ________.
A) do not require owners to take personal responsibility for their actions
B) provide limited liability protection to partners
C) have a straightforward income tax structure
D) are less vulnerable to conflicts between investors
E) allow investors to handle issues such as succession and termination better

Question

Quizplus · Accepted Answer

A)Income tax is straightforward for partnerships. Profit is split between or among the owners based on whatever percentages they have agreed to.
B)Income tax is straightforward for partnerships. Profit is split between or among the owners based on whatever percentages they have agreed to.
C)Income tax is straightforward for partnerships. Profit is split between or among the owners based on whatever percentages they have agreed to.
D)Income tax is straightforward for partnerships. Profit is split between or among the owners based on whatever percentages they have agreed to.
E)Income tax is straightforward for partnerships. Profit is split between or among the owners based on whatever percentages they have agreed to.

A Major Advantage of Partnerships Is That They ________