A legal form of business organization that is easily established and yet has improved opportunities for greater financial resources and specialized know-how without being subject to double taxation of its income is the
A) corporation.
B) cartel.
C) simple proprietorship.
D) consortium.
E) partnership.

Question

Quizplus · Accepted Answer

A partnership is a legal form of business organization that is relatively easy to establish and allows for a pooling of financial resources and specialized skills among the partners. Unlike corporations, partnerships are not subject to double taxation since profits are taxed only as the personal income of the partners.

A Legal Form of Business Organization That Is Easily Established