Partnership income and losses are usually divided on the, Ask an Expert

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Partnership income and losses are usually divided on the basis of interest, salaries, and stated ratios because partners seldom contribute time and resources equally this method reflects the amount of time devoted to the partnership by the partners it is simpler than following the legal rules it prevents arguments among the partners.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M92003760

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