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  3. Study Set
    Fundamental Accounting Principles Study Set 1
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    Exam 12: Accounting for Partnerships
  5. Question
    In Closing the Accounts at the End of a Period
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In Closing the Accounts at the End of a Period

Question 114

Question 114

True/False

In closing the accounts at the end of a period, the partners' capital accounts are credited for their share of the partnership net income or debited for their share of the partnership loss.

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