Which One of the Following Statements Regarding Partnership Taxation Is

Multiple Choice

Which one of the following statements regarding partnership taxation is always correct?

A) A partnership is a taxable entity for Federal income tax purposes.
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 partner's profit-sharing ratio will equal the partner's capital-sharing ratio.
E) None of these statements are correct.