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Which one of the following is not a characteristic of a general partnership? A. A partner has the right to participate in management, but is
Which one of the following is not a characteristic of a general partnership?
A. | A partner has the right to participate in management, but is not a co-owner of partnership property. | |
B. | Partnership income is separately taxed. | |
C. | A partnership is an entity distinct from the individual partners. | |
D. | Any partner may legally enter a contract that also binds the other partners. |
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