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TB MC Qu$.01-35$ The profits earned by a partnership are:

The profits earned by a partnership are:

Multiple Choice

fully distributed as taxable income to the partners.

distributed to general partners after interest is paid to limited partners.

distributed to the partners after the partnership pays its income taxes.

generally reinvested in the firm to fund future growth, rather than being distributed to owners.

generally held by the partnership for several years before being distributed as dividend payments.