Answered: A partner is to a partnership like a(n)…

A partner is to a partnership like a(n) ______________ is to a corporation a. Officer b. Director c. Shareholder d. Manager

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter20: Corporations And Partnerships

Section: Chapter Questions

Problem 3DQ

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Question

A partner is to a partnership like a(n) ______________ is to a corporation

a. Officer

b. Director

c. Shareholder

d. Manager

Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.

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