Question 12 All of the following are characteristics of a partnership, except: OA. is not considered a separate legal entity It has a definite life В. OC. has two or more owners, and called stockholders O D. the owners are liable for corporation's debts

SWFT Corp Partner Estates Trusts
42nd Edition
ISBN:9780357161548
Author:Raabe
Publisher:Raabe
Chapter13: Comparative Forms Of Doing Business
Section: Chapter Questions
Problem 19DQ
icon
Related questions
Question
Question 12
All of the following are characteristics of a partnership, except:
OA.
is not considered a separate legal entity
O B.
It has a definite life
has two or more owners, and called stockholders
OD.
the owners are liable for corporation's debts
Transcribed Image Text:Question 12 All of the following are characteristics of a partnership, except: OA. is not considered a separate legal entity O B. It has a definite life has two or more owners, and called stockholders OD. the owners are liable for corporation's debts
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Partners and Partnerships
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
SWFT Corp Partner Estates Trusts
SWFT Corp Partner Estates Trusts
Accounting
ISBN:
9780357161548
Author:
Raabe
Publisher:
Cengage
Individual Income Taxes
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
SWFT Essntl Tax Individ/Bus Entities 2020
SWFT Essntl Tax Individ/Bus Entities 2020
Accounting
ISBN:
9780357391266
Author:
Nellen
Publisher:
Cengage
SWFT Comprehensive Volume 2019
SWFT Comprehensive Volume 2019
Accounting
ISBN:
9780357233306
Author:
Maloney
Publisher:
Cengage
SWFT Comprehensive Vol 2020
SWFT Comprehensive Vol 2020
Accounting
ISBN:
9780357391723
Author:
Maloney
Publisher:
Cengage