multiple choice question according to the internal revenue service, how many people must join together to…
multiple choice question according to the internal revenue service, how many people must join together to qualify as a partnership? exactly two one or more two or more exactly three
Answer
Brief Explanations:
A partnership, as defined by the Internal Revenue Service (IRS), requires a minimum of two individuals or entities. The term "partnership" implies a relationship between at least two parties. Options like "Exactly two" are too restrictive as partnerships can have more than two partners. "One or more" is incorrect because one person alone cannot form a partnership (it would be a sole - proprietorship). "Exactly three" is also incorrect as the IRS does not set a fixed upper limit of three, only a lower limit of two.
Answer:
Two or more