Homework 1 - E12-1 E12-3 E12-1 1 2 3 4 5 6 7 8 9 False a...

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E12-1*, E12-3 E12-1 1. False – a partnership is an association of two or more persons. 2. False – no attorney or contract is necessary to form a partnership. 3. False – a partnership is also an accounting entity. 4. False – the net income of a partnership is not taxed as a separate entity but a partnership must file an information tax return showing partnership net income and each partner’s share of that net income. 5.
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