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1. For tax purposes, a limited liability company may elect to be treated as a partnership. A)TRUE B) FALSE 2. In a general partnership, each
1. For tax purposes, a limited liability company may elect to be treated as a partnership.
A)TRUE
B) FALSE
2. In a general partnership, each partner is individually liable to creditors for debts incurred by the partnership.
A)True
B)False
3. A disadvantage of partnerships is the mutual agency of all partners.
A)True
B)False
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