The net income (loss)allocated to each partner should always equal the total net income (loss)of the partnership.

Name: The net income (loss)allocated to each partner should always equal the total net income (loss)of the partnership.
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Quizplus · Accepted Answer

This is true because the net income (loss) of the partnership is divided amongst the partners based on their agreed upon profit-sharing ratio, and the sum of these individual shares should always be equal to the total net income (loss) of the partnership.

The Net Income (Loss)allocated to Each Partner Should Always Equal