1. A partnership:
is taxed the same as a corporation.
terminates at the death of any limited partner.
creates an unlimited liability for all general partners for the partnership debts.
has the same ability to raise capital as a corporation does.
allows for easy transfer of interest from one general partner to another.
2. Present Value of an Annuity Due If the present value of an ordinary, 5-year annuity is $6,400 and interest rates are 12 percent, what's the present value of the same annuity due?
$7,168
$8,168
$6,400
$7,400