A partnership:
A) is taxed the same as a corporation.
B) agreement defines whether the business income will be taxed like a partnership or a corporation.
C) terminates at the death of any general partner.
D) has less of an ability to raise capital than a proprietorship.
E) allows for easy transfer of interest from one general partner to another.

Question

Quizplus · Accepted Answer

A partnership typically terminates upon the death of any general partner unless otherwise agreed upon in the partnership agreement.

A Partnership