Fred is required to pay wilma $12,000 of alimony each year until their child turns 18. at that time, the payment will be reduced to $10,000 per year. in year 3, in accordance with the divorce agreement, fred paid $6,000 directiy to wilma and $6,000 directiy to the iaw schooi wilma is attending. what amount of the payments received in year 3 is income to wilma? a. $6,000 b. $10,000 c. $12,000 d. $0 23

Which of the following statements is correct? a major disadvantage of a partnership relative to a corporation is the fact that federal income taxes must be paid by the partners rather than by the firm itself. in a typical partnership, liability for other partners’ misdeeds is limited to the amount of a particular partner’s investment in the business.true in a limited partnership, the limited partners have voting control, while the general partner has operating control over the business, and the limited partners are individually responsible, on a pro rata basis, for the firm’s debts in the event of bankruptcy. partnerships have more difficulty attracting large amounts of capital than corporations because of such factors as unlimited liability, the need to reorganize when a partner dies, and the illiquidity of partnership interests.