SIE practice questionmediumAccount Types – Business Partnerships
A group of doctors forms a business partnership and wishes to open an investment account for the group. What type of account should they open?
- APartnership account✓ Correct answer
- BJoint tenants account
- CIndividual account
- DTrust account
Explanation
Why A — Partnership account
A partnership account is specifically designed for partnerships, allowing them to invest collectively. Joint tenants and trust accounts serve other purposes.
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