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profileterry Ann

A sole proprietorship has a perpetual existence. (Points : 1)       
      

A partner is allowed to contribute property that is still being paid for into the partnership 
      

. If a firm wants to conduct business in multiple states then the firm cannot be a sole proprietorship 
      
      

For tax purposes a partnership and a corporation are treated in an identical manner. 
      

    • 10 years ago
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