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What is the effect on the partnership's income tax liabilities when it makes a loss? Group of answer choices The partnership must sell its assets
What is the effect on the partnership's income tax liabilities when it makes a loss? Group of answer choices The partnership must sell its assets to enable it to pay its income tax obligations The loss is carried forward in the partnership accounts until it derives a taxable profit The loss is transferred to the partners who then carry it forward until they receive a distribution of partnership profits. The partnership loss is transferred to the partners who can deduct it in their own tax return
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