Question

a type of partnership called a ______ acts much like a corporation and is traded on stock exchanges, but it is taxed like a partnership with profits passing through to the owners and taxed as the owners personal income.

select one:
a. master limited partnership
b. cooperative partnership
c. combined general partnership
d. limited partnership

Explanation:

A master - limited partnership (MLP) has corporate - like trading on stock exchanges and partnership - like tax treatment where profits pass through to owners and are taxed as personal income. Other types of partnerships do not have these combined characteristics.

Answer:

A. master limited partnership