The profits of a general partnership: are not taxable unless the partnership has over $100,000 in net income. cannot exist unless the partnership has a limited partner. pass through the business to the partners. are not taxable to the individual partners.

The profits of a general partnership: are not taxable unless the partnership has over $100,000 in net income. cannot exist unless the partnership has a limited partner. pass through the business to the partners. are not taxable to the individual partners.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The profits of a general partnership: are not taxable unless the partnership has over $100,000 in net income.
cannot exist unless the partnership has a limited partner. pass through the business to the partners. are not
taxable to the individual partners.

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