Unlike a corporation, a partnership does not pay income tax.
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Q4: The separate entity assumption requires personal expenses
Q5: At the end of each fiscal year,
Q6: Salary and interest allowances for partners are
Q7: Investments by a partner are credited to
Q8: Family partnerships enable family members to pool
Q10: Limited partners are only liable for their
Q11: Each partner is empowered to act as
Q12: The Articles of Organization are the legal
Q13: When a partner makes a cash withdrawal
Q14: Establishing a fiscal year and specifying the
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