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    College Accounting Study Set 5
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    Exam 19: Accounting for Partnerships
  5. Question
    The Basis on Which Profits and Losses Are to Be
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The Basis on Which Profits and Losses Are to Be

Question 64

Question 64

True/False

The basis on which profits and losses are to be shared is a matter of agreement between the partners and not necessarily the same as their investment ratio.

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