100%(3)3 out of 3 people found this document helpful
This preview shows page 1 - 2 out of 3 pages.
Question 13.5 out of 3.5 pointsNo formal steps are necessary to create a sole proprietorship.Question 23.5 out of 3.5 pointsWhen a partner leaves the partnership, whether it be voluntary or by expulsion, death or bankruptcy, itis called
Question 33.5 out of 3.5 pointsThe Federal Trade Commission requires franchisors to
Question 43.5 out of 3.5 pointsDebra wanted to form a partnership with Lawrence. He agreed and they became co-owners in an equalpartnership. This year, after expenses, the partnership had a profit of $200,000. How will the taxation of this profit be handled?