All of the following statements about limited partnerships are true EXCEPT that the participants' role is passive

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All of the following statements about limited partnerships are true EXCEPT that the participants'

role is passive in management.

losses are limited to the amount of their investment.

profits are paid to them in proportion to their investment.

income taxes on the investment are paid by the partnership.

Related Book For answer-question

Fundamentals Of Taxation 2015

ISBN: 9781259293092

8th Edition

Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone

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Posted Date: Nov 14, 2023 03:46 AM

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All of the following statements about limited partnerships are true EXCEPT that the participants' role is passive

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Fundamentals Of Taxation 2015

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