There is an impact on the income statement (gain or loss)of a partnership when a partner withdraws from the business.

Name: There is an impact on the income statement (gain or loss)of a partnership when a partner withdraws from the business.
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When a partner withdraws from a partnership, the impact is reflected in the partners' capital accounts and does not directly affect the income statement. The income statement records the partnership's revenues and expenses, not changes in ownership structure.

There Is an Impact on the Income Statement (Gain or Loss)of