Which of the following statements about partnerships is the most accurate?
A)A partnership is simply a corporation with fewer than 100 owners.
B)Partnerships are taxed at the lowest corporate tax rate.
C)A major drawback of a partnership is that it is difficult to terminate.
D)A major advantage of a partnership is that it offers owners limited liability.

Question

Quizplus · Accepted Answer

A major drawback of a partnership is that it can be difficult to terminate due to the need to settle accounts and legal obligations among partners.

Which of the Following Statements About Partnerships Is the Most