The profits of a general partnership:
A) are not taxable to the individual partners
B) pass through the business to the partners
C) are not taxable unless the partnership has over $100,000 in net income
D) cannot exist unless the partnership has a limited partner
Correct Answer:
Verified
Q24: Name a partnership characteristic AND describe the
Q25: The partnership characteristic of co-ownership of property
Q26: When a partner contributes an asset with
Q27: Contributions to a partnership are entered in
Q28: Most professionals such as doctors,lawyers and public
Q30: Which of the following statements is TRUE
Q31: Which of the following BEST describes the
Q32: The characteristic of partnerships that states that
Q33: An individual partner's signing of a contract
Q34: A partner cannot invest an asset with
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