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Question 4: Signify TRUE or FALSE as applicable for each of the following items as...

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Accounting

Question 4: Signify TRUE or FALSE as applicable for each of the following items as they pertain to general partnerships.

a. The partnership is a separate LEGAL entity from its owners.

b. The death of a partner dissolves the partnership.

c. If a partner provides services to the partnership, payments for the services provided can be treated as salary expense by the partnership.

d. Partners are personally liable for the debts of the partnership.

e. Partnership income tax is taxable to both the partnership and the individual partners.

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