Problem 14-2(static)(LO 14-1) How aneminesthp accounting differ from corporate accounting? Minthple Chorce Portnerships report...
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Problem staticLO How aneminesthp accounting differ from corporate accounting? Minthple Chorce Portnerships report all assets at fair value as of the latest balance sheet date. Revenues are recognized at a different time by a partnership than is appropriate for a corporation. The matching principle is not considered appropriate for parthership accounting. Individual capital accounts replace the contributed capital and retained earnings balances found in corporate accounting. 
Problem staticLO
How aneminesthp accounting differ from corporate accounting?
Minthple Chorce
Portnerships report all assets at fair value as of the latest balance sheet date.
Revenues are recognized at a different time by a partnership than is appropriate for a corporation.
The matching principle is not considered appropriate for parthership accounting.
Individual capital accounts replace the contributed capital and retained earnings balances found in corporate accounting.
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