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Which of the following statements is true concerning the similarities between a limited partnership and a corporation? - Both are recognized for federal income tax
Which of the following statements is true concerning the similarities between a limited partnership and a corporation?
Both are recognized for federal income tax purposes as taxable entities.
Both are allowed statutorily to have perpetual existence.
Each is created under a statute and must file a copy of its organizational document with the proper state authorities.
All corporate shareholders and all partners in a limited partnership have limited liability.
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