A partnership is a legal entity separate and apart from its owners.
Correct Answer:
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Q7: There is no income tax imposed on
Q9: An advantage of the partnership form of
Q11: Ownership is easily transferred in a partnership.
Q13: In a limited partnership, the general partner's
Q15: Under the partnership form of business, large
Q16: A partnership has a limited life, because
Q17: A partnership agreement must be in writing.
Q18: Each partner is personally liable for all
Q20: An informational tax return must be filed
Q79: The potential loss of all partners in
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