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Question
Which of the following is an advantage of partnerships?
A. A partnership is practical because only a limited number of persons can be partners.
B. A partnership is easily formed because it is based on a contract among persons.
C. Each partners liability is unlimited.
D. Partners are taxed on their share of the partnerships profits, whether the profits are distributed or not.
E. A partnership is dissolved anytime a partner ceases to be a partner, regardless of whether the reason is withdrawal or death.
Answer
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