Author Question: Which of the following statements is correct concerning the similarities between a limited ... (Read 44 times)

mrsjacobs44 · **on:** Jun 24, 2018

Which of the following statements is correct concerning the similarities between a limited partnership and a corporation?
a. Each is created under a statute and must file a copy of its certificate with the proper state authorities.
b. All corporate stockholders and all partners in a limited partnership have limited liability.
c. Both are recognized for federal income tax purposes as taxable entities.
d. Both are allowed statutorily to have perpetual existence.

Question 2

The Toxic Substances Control Act applied to about 3,000 substances.
a. True
b. False
Indicate whether the statement is true or false