Based on the entity concept of partnerships, which of the following statements is false?
A) A partnership may enter into taxable transactions with partners.
B) A partnership is legally liable for debts of the partners.
C) A partnership must file an annual tax return (Form 1065) reporting the results of operations.
D) A partnership is required to make tax elections for partnership activities that are applicable to all partners.
E) A partnership may hold title to property in its own name.
Correct Answer:
Verified
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Q38: Any portion of a partner's distributive share
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Q41: Which of the following is not used
Q42: Which of the following partnership interests is
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Q44: Which of the following is false regarding
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