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What happens to profits generated by a partnership? Pass onto the partners for their individual taxes Subject to same taxation as corporations O Taxed within
What happens to profits generated by a partnership? Pass onto the partners for their individual taxes Subject to same taxation as corporations O Taxed within the partnership structure Exempt until it meets the $500,000 small business limit On the balance sheet, current liabilities would include all except: Accrued expenses Estimated liabilities Accrued revenues O Unearned revenues
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