Multiple Choice
Which of the following is incorrect regarding partnerships?
A) Legally,there is no economic separation between a partnership and its owners.
B) A partnership is a voluntary association of individuals.
C) If the partnership agreement does not describe the method of income distribution,the partners must share income equally.
D) When individuals invest property in a partnership,they co-own the property with the partnership.
Correct Answer:
Verified
Correct Answer:
Verified
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