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Which of the following statements regarding a partnership is true? A partnership is an involuntary association. To be valid, a partnership must have a written

Which of the following statements regarding a partnership is true?

A partnership is an involuntary association.

To be valid, a partnership must have a written partnership agreement.

A partnership is a separate, tax

-

paying entity for federal tax purposes.

Partners in a partnership have personal liability much like that of sole proprietors.

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