Question

which statement about partnerships is most accurate?
multiple choice
a major drawback of a partnership is that it is difficult to terminate.
partnerships are taxed at the lowest corporate tax rate.
a partnership is a corporation with fewer than 100 owners.
a major advantage of a partnership is that it offers all owners limited liability.

Explanation:

Partnerships are not corporations. They are not taxed at corporate - tax rates. General partners have unlimited liability. Partnerships can be relatively easily terminated by agreement among partners. None of the other statements are correct.

Answer:

None of the above.