Which of the Following Is a True Statement Concerning a General

question 48

Multiple Choice

Which of the following is a true statement concerning a general partnership?

• A) Partners are not responsible for the debts of the partnership.
• B) The income of a partnership is taxed at the partners' income tax rate.
• C) Partners generally do not manage the partnership.
• D) Partnerships have unlimited lives similar to corporations.
• E) Partnerships are taxed at the corporate level.

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