Which of the following statements is TRUE regarding a partnership Question 5 options A) A partnership is taxed as a separate entity B) A partner's income tax is based on the amount of money the partner withdrew from the partnership during the year C) A partnership must file an information return that reports the partnership profit and the partners' share in that profit D) Only professionals, such as doctors and lawyers may form a partnership

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Which of the following statements is TRUE regarding a partnership? Question 5 options: A) A partnership is taxed as a separate entity. B) A partner's

Which of the following statements is TRUE regarding a partnership?

Question 5 options:

A)	A partnership is taxed as a separate entity.

B)	A partner's income tax is based on the amount of money the partner withdrew from the partnership during the year.

C)	A partnership must file an information return that reports the partnership profit and the partners' share in that profit.

D)	Only professionals, such as doctors and lawyers may form a partnership.

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