Which of the following is not a characteristic of the proprietary theory that influences accounting for partnerships?
A) Partners' salaries are viewed as a distribution of income rather than a component of net income.
B) A partnership is not viewed as a separate, distinct, taxable entity.
C) A partnership is characterized by limited liability.
D) Changes in the ownership structure of a partnership result in the dissolution of the partnership.
Correct Answer:
Verified
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