Which of the Following Statements Best Describes Partnerships

Multiple Choice

Which of the following statements best describes partnerships?

A) Corporations are at a disadvantage relative to partnerships because they have to file more reports to regulatory agencies, even if they are not publicly owned.
B) In a regular partnership, liability for the firm's debts is limited to the amount a particular partner has invested in the business.
C) A fast-growth company would be more likely to set up as a partnership for its business organization than would a slow-growth company.
D) There must be at least one person acting as a general partner in a limited partnership.