Which of the following statements about a partnership is, Ask an Expert

Accounting

Which of the following statements about a partnership is true?

a. A partnership is a taxpaying entity.

b. Partners are taxed on distributions from a partnership.

c. Partners are taxed on their allocable share of income whether it is distributed or not.

d. Partners are considered employees of the partnership.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9438655

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