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Please help 18. In the absence of an agreement to the contrary, profits of a partnership are shared: A. on a pro rata basis relative
Please help 18. In the absence of an agreement to the contrary, profits of a partnership are shared: A. on a pro rata basis relative to each partner's capital contribution. B. as determined by a majority of partners at the time of distribution. C. equally among the partners. D. None of the above. The advantage of a corporation over a partnership is: A. perpetual existence. B. shares are easily transferable to another person. C. it is easier to raise funds. D. All the above are correct. 19. The business form that is taxed as a partnership and gives all owners limited liability, is: A. a limited liability company B. a limited partnership. C. a close corporation. D. a general partnership. 20
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