The General Rule Regarding Income and Expense Items of a Partnership

The general rule regarding income and expense items of a partnership and their classification is:

A) All income and expense items of a partnership are treated as ordinary income/expense items.
B) All income and expense items of a partnership are treated as capital income or losses.
C) All income and expense items of a partnership that may be treated differently at the partner level must be "separately stated."
D) All income and expense items of a partnership are treated as separately stated items.