Which of the following is an advantage of a partnership?
A) Partnerships are less expensive to organize than corporations.
B) The owners of a partnership are generally exempted from personal income taxes.
C) The owners who contribute an asset to the partnership retain absolute claim on the asset.
D) Mutual agency creates personal obligations for each partner.

Question

Quizplus · Accepted Answer

Partnerships are generally less expensive to organize than corporations due to their simpler legal structures and fewer regulatory requirements.

Which of the Following Is an Advantage of a Partnership