TRUE OR FALSE \begin{tabular}{|r|l|} \hline 1. & Theprofitsofthepartnershipwillbedividedamongthepartnersbasedontheiragreement,regardlessofthepartnersinterestinthepartnership. \\ \hline 2. & Theratioinwhichpartnershipprofitsandlossesisdividedisknownasthecapitalratio. \\ \hline 3. & All partners are to share equally on partnership profits and losses. \\ \hline 4. & All partners are to be held liable for debts of the partnership. \\ \hline 5. & Personalincometaxistobepaidonthenetshareofapartneronthenetincomeoftradingpartnership. \\ \hline 6. & Onlygeneralpartnersaretobeheldliablefordebtsincurredbythepartnershipduetounprofitableoperations. \\ \hline 7. & Whenpartnersareentitledtosalaries,theyaretobecreditedforthisevenwhenbusinessoperationsresultinaloss. \\ \hline 8. & Alimitedpartnersharesnotonlyintheprofitsbutalsointhelossesofthepartnership. \\ \hline 9. & Withdrawalthatwillbemadebyapartnerarelimitedtothenetincomefortheyear. \\ \hline 10. & Industrialpartnersdonotshareinthelossessustainedbythepartnershipduetounprofitableoperations. \\ \hline \end{tabular}