Which one of the following would not be considered an expense of a partnership in determining income for the period?

Name: Which one of the following would not be considered an expense of a partnership in determining income for the period?
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Question

Quizplus · Accepted Answer

Salary allowance to partners would not be considered an expense in determining income for the period since it is a distribution of profits to partners, not an expense incurred to generate revenue.

Which One of the Following Would Not Be Considered an Expense