Which Statement Is TRUE About Partnerships

question 45

Multiple Choice

Which statement is TRUE about partnerships?

• A)Legally,a partnership is separate from the partners.
• B)A partnership has one capital account.
• C)For accounting purposes,a partnership is separate from the partners.
• D)For accounting purposes,a partnership is not separate from the partners.

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Definitions:

Dimension Lines

Lines on a technical drawing that represent the measurement of an object’s length, width, or height.

Leaders

Lines in technical drawings that connect annotations or notes to specific features, usually with an arrowhead pointing to the feature of interest.

Curved Feature

A design element in a drawing or physical object that incorporates one or more curves, rather than straight lines exclusively.

Inside Corner

The point where two intersecting walls or surfaces meet on the interior side, often requiring special consideration in design for stress concentration.