Lance and Darrell Have an Equal Partnership

question 15

Multiple Choice

Lance and Darrell have an equal partnership.This year,after expenses,the partnership had a profit of $100,000.Lance and Darrell will each pay taxes on:

• A) whatever they receive from the partnership.
• B) $50,000.
• C) $100,000.
• D) None of the above. The partnership itself will pay the taxes on the business's profit.

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