The salary allocation to partners used in dividing net income would also appear as salary expense on the partnership income statement.
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Q5: A partnership is subject to federal income
Q6: A partnership is a legal entity separate
Q7: The amount that a partner withdraws as
Q8: When compared to a corporation, one of
Q9: An advantage of the partnership form of
Q11: A partnership requires only an agreement between
Q12: Each partner has a separate capital and
Q13: When compared to a corporation, one of
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