Question: In which of the following situations could a partnership be considered a legal entity as opposed to a legal aggregate? multiple choice When the partnership

In which of the following situations could a partnership be considered a legal entity as opposed to a legal aggregate?
multiple choice
When the partnership debts eventually become the debts of the individual partners.
When the partnership is being sued.
When one partner dies.
For taxation purposes.
All of these situations require a partnership to be considered a legal entity.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

In which of the following situations could a partnership be considered a legal entity as opposed to a legal aggregate? When the partnership debts eventually become the debts of the individual When...

Q:

1. A partnership is considered a legal entity in each of the following ways except ? a. A partnership can be named in a suit. b. Partnership assets are arranged in a certain order to pay any...

Q:

Do the reading assignment and then look up KRS 275.520 and read its text.Then answer the questions below. Fully explain your answers: 1.What is the taxation advantage of a LLC as opposed to a...

Q:

Hello, I havetwo articles about S Corp. and C Corp., and IJUST need towrite a conclusion paragraph based on professor's questions. can you help me to write it? Articles are attached Accounting...

Q:

Hello, I havetwo articles about S Corp. and C Corp., and IJUST need towrite a conclusion paragraph based on professor's questions. can you help me to write it? Articles are attached Accounting...

Q:

Final Submission: Memorandum With Appendix In Module Nine, you will complete all necessary tax forms according to Section III of the critical elements. You will then submit a comprehensive memorandum...

Q:

Directions to students: Download the solution to part 1 in the doc share (FILE: Unit 1 ETHICS CASE) or by clicking on the button to the left. Review the solution to parts 1 and 2 in the case. Drawing...

Q:

Hello tutor, my professor was't satified with my conculsion, that is milestone 4, he said i don't follow up the rubic, can you help me write the conculsion part? i can post it on new part, and pay...

Q:

Hello tutor, my professor was't satified with my conculsion, that is milestone 4, he said i don't follow up the rubic, can you help me write the conculsion part? i can post it on new part, and pay...

Q:

What are the basic segment reporting requirements under US GAAP, and would you say they favor those stakeholders who prefer more or who prefer less disclosure? Reference: Please use Segment reporting...

Q:

What are probiotics and their potential benefits for gut health ?

Q:

Which of these is NOT a function of the stomach? to secrete enzymes that break down proteins to secrete hydrochloric acid O to secrete enzymes that break down carbohydrates Oto mechanically digest...

Q:

For a manager reporting historical performance of an open - end mutual fund, the most appropariate measure of return is the: A arithmetic mean retum. B time - weighted rate of return. c

Q:

Can you elucidate the role of molecular chaperones and protein quality control systems in maintaining the integrity and homeostasis of the cytoplasm, particularly under conditions of cellular stress...