A similarity between general partnerships and sole proprietorships is:
A) their ability to pool in financial resources.
B) their ability to share responsibilities.
C) their ability to avoid double taxation.
D) the limited liability the owners enjoy.

Question

Quizplus · Accepted Answer

Both general partnerships and sole proprietorships avoid double taxation, as income is taxed only once at the individual owner's level.

A Similarity Between General Partnerships and Sole Proprietorships Is