For a business organized as a general partnership, which statement is true? A....

70.2K

Verified Solution

Question

Accounting

For a business organized as a general partnership, which statement is true?
A. Formation of a partnership requires getting a charter from the state of incorporation.
B. The owners and the business are separate legal entities.
C. Each partner is potentially responsible for the debts of the business.
D. A partnership is not considered to be a separate accounting entity.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students