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    Accounting Study Set 4
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    Exam 12: Accounting for Partnerships and Limited Liability Companies
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    If the Net Income of a Partnership Is Less Than
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If the Net Income of a Partnership Is Less Than

Question 138

Question 138

True/False

If the net income of a partnership is less than the total of the allowances provided by the partnership agreement, the difference must be divided among the partners in the income-sharing ratio.

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