Statements related to partnerships

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Reference no: EM131208085

Which one of the following statements related to partnerships is NOT correct?

Dividends received by a partnership are not grossed up by the partnership in the calculation of partnership income.

Charitable donations made by a partnership are not deductible by the partnership.

Business losses of a partnership cannot be allocated to the partners for them to deduct against other sources of income.

Salaries to partners are not deductible by the partnership in the computation of partnership income.

Reference no: EM131208085

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