Partnerships Are Quasi-Taxable Organizations.This Means That They

Multiple Choice

Partnerships are quasi-taxable organizations.This means that they:

A) do not pay taxes when submitting the partnership tax return to the Internal Revenue Service.
B) are completely exempted from paying taxes.
C) are subjected to double taxation.
D) need to pay a high rate of tax irrespective of whether or not a profit is made.
E) have to pay taxes only if they decide to adopt initial public offering.