In a general partnership, profits and losses are shared equally among all the partners.
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Q7: A method of allocating profits and losses
Q8: An alternative to the partnership form of
Q9: A partnership is a taxable entity.
Q10: A partnership is a tax-reporting entity but
Q11: In a general partnership, only a majority
Q13: When a partnership agreement has provisions that
Q14: Partnerships are separate legal entities, like corporations.
Q15: A partner's drawing account is merely a
Q16: A partner's drawing account is substantively a
Q17: Partners are also employees if they are
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