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Which of the following statements about a publicly traded partnership is incorrect? The general...

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Accounting

Which of the following statements about a publicly traded partnership is incorrect?

The general rule is that a publicly traded partnership will be treated as a corporation for tax.

If the publicly traded partnership has qualifying income, it will be treated as a pass-through entity, passing the income/loss to partners.

Passive business losses of one publicly traded partnership may be offset by passive business income of another publicly traded partnership.

A publicly traded partnership is any partnership if interests in such partnership are traded on an established securities market or interests in such partnership are readily tradable on a secondary market

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