You Have Received Your Advanced Degree in Biochemistry with a Specialty

Multiple Choice

You have received your advanced degree in biochemistry with a specialty in recombinant DNA technology. Your colleagues wish to form a partnership to research adenovirus vectors. Your legal counsel advises you on the following aspects of a partnership, yet you tell her, based on your knowledge of economics, that you think one of the following points is INCORRECT.

A) An advantage of the partnership would be that it is relatively easy to form, almost as easy as forming a proprietorship.
B) The income of the partnership is treated as personal income and is subject only to personal taxation rates.
C) The personal assets of each partner should be safe and would not necessarily be at risk due to claims by financial institutions.
D) Partnerships often help reduce the costs of monitoring job performance in situations in which it is difficult to measure objectively.