Question #25 of 50 Question ID: 542567 Which characteristic describes a general partnership? A) The

Question #25 of 50

Question ID: 542567

Which characteristic describes a general partnership?

A)

The IRS requires that there be at least one partner who has limited liability and no say in the operation of the partnership.

B)

Not more than 25% of gross income can come from passive activity.

C)

Liability incurred by the partnership becomes a partnership liability only, not a liability of the individual owners.

D)

The partnership files an information return reporting the income attributable to each partner with the IRS.

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