Question

Which of the following statements is TRUE regarding general partnerships?
(a) They usually are suggested for groups of individuals that are seeking to form a business entity to invest in real estate because of the unlimited liability of each partner.
(b) They usually are not suggested for groups of individuals that are seeking to form a business entity to invest in real estate because of the unlimited liability of each partner.
(c) They protect each of the partners from potential losses associated with the partnership's business activities
(d) They have assessed income taxes at a lower rate than corporations

Answer

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