_____ When a partnership is formed, equity dictates that assets contributed to the partnership be recorded in the general ledger at their

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When forming a partnership, equity principles require that assets contributed by the partners be recorded at their fair (or current) value. This ensures that the partnership's financial statements accurately reflect the value of its assets at the time of formation, providing a fair basis for recognizing the contributions of each partner.

_____ When a Partnership Is Formed, Equity Dictates That Assets