Partnership Accounting a. What information is usually included in a partnership

Chapter 27, Problem 2

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QUESTION:

Partnership Accounting

a. What information is usually included in a partnership agreement?

b. How does accounting for a partnership differ from that for a sole proprietorship?

Questions & Answers

QUESTION:

Partnership Accounting

a. What information is usually included in a partnership agreement?

b. How does accounting for a partnership differ from that for a sole proprietorship?

ANSWER:

                                                                 Step 1 of 3

The rules laid down for the conduct of business operations mutually by more than one partner are called partnership deeds.

                                                                 

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