1. What are some of the differences (advantages/disadvantages) of an LLC versus a Partnership? 2....
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Accounting
1. What are some of the differences (advantages/disadvantages) of an LLC versus a Partnership?
2. How could a partner's capital account end up with a debit (deficit) balance? Please explain.
3. Why do we have bonuses paid to existing partners or paid to a new partner when a new partner is admitted to the partnership? Why doesnt the new partner just pay for his or her share of the partnership based on what it is worth?
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