Answered: An advantage of a partnership includes…

An advantage of a partnership includes which of the following? Group of answer choices Greater financial strength Does not pay taxes Shares liability among the partners All of the above

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

An advantage of a partnership includes which of the following?

Group of answer choices

Greater financial strength

Does not pay taxes

Shares liability among the partners

All of the above

Expert Solution

Step 1

Partnership refers to an agreement where two or more people come together for a common goal. The profit should be distributed among the partner on the basis of the partnership deed.

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