Answer:
The correct answer is:
C. Partnerships is a reporting entity but not a taxable entity.
Explanation:
Individuals are reporting entities and taxable entities, so a is incorrect. A partnership is not a taxable entity, but partnerships are reporting entities. Because partnerships report their accountant numbers but don't pay direct taxes. However, the individuals in that partnership declare their income and are taxed on their individual earnings. Corporations have to report and get taxed over their income. So the correct option is C.
Answer:
Open listing
Explanation:
In an open listing, the seller of the house has two or more brokers trying to complete the transaction, and only the broker who manages to sell the property receives a commission.
Patsy has an open listing because 1) she has two brokers competing for selling the house 2) she will only pay a commission to the broker who completes the transaction successfully.
The Gross National Product is the total value of all goods and services produced by the nationals of the country: the bigger the bigger the economy, so the correct answer is <span>d. the economy is doing well.
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