Even Though a Partnership Is Not a Separate Legal Entity

question 216

True/False

Even though a partnership is not a separate legal entity for accounting purposes the partnership affairs should be kept separate from the personal activities of the owners.

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Definitions:

Job Candidate

An individual who applies for or is being considered for employment in a specific position within an organization.

Perceiving Differences

The act of recognizing or identifying variations or distinctions between subjects, items, or situations.

Class

A system of ordering society whereby people are divided into sets based on perceived social or economic status.

Category

A group or category of individuals or objects that are considered together because of similar attributes they possess.