Match Each Statement with the Correct Term Below

Multiple Choice

Match each statement with the correct term below.
-Partnership

A) An entity with conduit tax characteristics that provides limited liability to its owners.
B) An organization of two or more persons operating a business that is not taxed.
C) A general partnership that offers limited liability to the partners.
D) An association created under the laws of a state giving owners limited liability.
E) Retains legal characteristics while obtaining tax characteristics of a conduit.
F) A partnership in which the liability of at least one partner is limited.