MC Qu$.14-1($Static$)$ Which one of the following...

Which one of the following is a reason for the popularity of partnerships as a legal form for businesses?

Multiple Choice

Partnerships avoid the double taxation of income that is found in corporations.

Partnerships require a written Articles of Partnership.

In some cases, losses may be used to offset gains for income tax purposes.

Partners in partnerships are not subject to unlimited liability.

Partnerships avoid mutual agency.