Which statement is CORRECT? Select one: A. Partners' salary is an allowable expenses B. Tax returns are due in April the following year C. A partnership is considered as a separate entity from the partners D. Unabsorbed capital allowance can be claimed against the future income of LLP
Which statement is CORRECT? Select one: A. Partners' salary is an allowable expenses B. Tax returns are due in April the following year C. A partnership is considered as a separate entity from the partners D. Unabsorbed capital allowance can be claimed against the future income of LLP
Chapter10: Partnership Taxation
Section: Chapter Questions
Problem 15MCQ
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Question
Which statement is CORRECT?
Select one:
A. Partners' salary is an allowable expenses
B. Tax returns are due in April the following year
C. A
D. Unabsorbed capital allowance can be claimed against the future income of LLP
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