10.______ A General Partnership, as an entity, must:

a. pay income taxes based on the partnership profit.

b. file an informational tax return, and pass the obligation to pay the taxes

through to the partners, individually.

c. pay income taxes at the corporate income tax rate

d. neither report profit/loss, nor pay any income taxes.

11.______ Unless otherwise specified in the General Partnership agreement,

a. profits are distributed in relation to hours worked

b. profits are not distributed

c. profits are shared equally among the partners

d. profits are classified as retained earnings