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Discussion Question 21-1(LO.1) 1. Complete the sentence that defines what a...

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Accounting

Discussion Question 21-1(LO.1)
1. Complete the sentence that defines what a partnership agreement is.
A partnership agreement is an agreement among the partners regarding
of
.
2. Regarding provisions of a partnership agreement, classify each of the following as "Yes" it would be included or "No" it would not.
a. The rights and obligations of the partners.
b. The allocation of income, deductions, and cash flows.
c. The persons (individuals) that can be partners.
d. The conditions for terminating the partnership.
e. The initial and future capital contribution requirements.

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