True about partnerships, Which statements are true about

True about partnerships

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Reference no: EM131945224

1. Which statements are true about partnerships?

Partnerships make it easy to raise large amounts of capital.

A partnership is easy to set up.

Partners have unlimited liability.

All profits from a partnership are passed through to the partners for paying taxes.

2. Which statements are true?

All profits from a sole proprietorship are passed through to the owner for paying taxes.

A sole proprietorship offers limited liability.

A sole proprietorship is easy to set up.

It is impossible to sell a part of your ownership stake in a sole proprietorship.

A sole proprietorship is subject to few government regulations.

Reference no: EM131945224

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