Question: Which statement is correct? 1. A partnership pays 30 % income tax on its profits. 2. A partner must make a drawing for the payments

Which statement is correct?

1. A partnership pays 30 % income tax on its profits.

2. A partner must make a drawing for the payments of income taxes.

3. A partnership does not pay income tax on its profits.

4. The partners of a partnership must pay-in the income taxes for their company into the partnership’s bank account.

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