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Which one of the following statments regarding partnership taxation is always correct? a. A partnership is a taxable entity for Federal income tax purpose. b.
Which one of the following statments regarding partnership taxation is always correct? a. A partnership is a taxable entity for Federal income tax purpose. b. Partnership income is comprised of ordinary partnership income or loss and separately stated items. c. A partnership is not required to file a tax return. d. A parnter's profit-sharing ratio will equal the partner's capital-sharing ratio. e. None of these statements are correct
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