1. Characteristics of a partnership that emphasize that the entity is viewed as the individual owners include the following: Salaries to partners are viewed as distribution of income rather than a component of income. Limited liability of general partners extends beyond the entity to the individual partners. Income of the partnership is not taxed at the partnership level but, rather, is included as part of the partners' individual taxable income. A&C A, B and C are all correct Question 2 Stock Cash Capital Salary Question 3 3. In the absence of a partnership agreement, RUPA would indicate profit and losses are to be: Divided in a ratio according to capital Divided in a ratio according to initial investment Divided in a ratio according to ending capital investment Divided equally Question 4 Assets for $100,000 Liabilities for $100,000 Income Summary for $100,000 Salane Evnonse for t1nnmon