Lytle River Company operates a public water supply system. Lytle must send to every household that is supplies with water an annual statement describing a. Lytle's financial situation and material facts that might affect it. b. other business in which Lytle is involved and to what extent. c. the source of the water, and any contaminants and health concerns. d. parties who might be held liable if pollution problems arise. e. C and D are both correct.

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.