The Articles of Organization are the legal agreement of the partnership that specifies the names of partners, the name, location and nature of the partnership business; the starting date and life of the partnership as well as the rights and duties of each partner.
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Q7: Investments by a partner are credited to
Q8: Family partnerships enable family members to pool
Q9: Unlike a corporation, a partnership does not
Q10: Limited partners are only liable for their
Q11: Each partner is empowered to act as
Q13: When a partner makes a cash withdrawal
Q14: Establishing a fiscal year and specifying the
Q15: Salary and interest allowances are considered in
Q16: The journal entry to record the division
Q17: The assets of a sole proprietorship are
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