All of the following are correct EXCEPT

Name: All of the following are correct EXCEPT
Brand: Quizplus
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Question

Quizplus · Accepted Answer

A partnership is not considered a separate legal entity in the sense that it cannot have its own assets or liabilities separate from those of its partners. Therefore, the personal assets, liabilities, and transactions of the partners are not recorded in the partnership's books; instead, the partnership's own transactions, assets, and liabilities are recorded separately from those of its partners.

All of the Following Are Correct EXCEPT