Which of the following does not describe the partnership form of organization? a

Question

Which of the following does not describe the partnership form of organization? a. Partnerships allow numerous individuals to combine their efforts for a variety of business purposes in an organization that can last indefinitely. b. Partnerships can survive the admission of new partners and the disassociation of existing partners as they retire. c. From a tax standpoint, the taxing authorities view the partnership as a taxable entity and tax its profit like other forms of organization. d. Partnerships also pass through liabilities to the partners.

Explanation / Answer

Partnerships can survive the admission of new partners and the disassociation of existing partners as they retire.

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