Fundamentals of Advanced Accounting 5th Edition by Joe Ben Hoyle,Thomas Schaefer,Timothy Doupnik

Exercise 42

Which of the following is not a reason for the popularity of partnerships as a legal form for businesses
a. Partnerships may be formed merely by an oral agreement.
b. Partnerships can more easily generate significant amounts of capital.
c. Partnerships avoid the double taxation of income that is found in corporations.
d. In some cases, losses may be used to offset gains for tax purposes.