Partnership It is that form of organization which is owned and managed by two or more persons who invest and share the profits and losses according to a pre-determined ratio. The participation of partners in the net income of the year under various independent assumptions.

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Chapter 12, Problem 12.3EX

To determine

Partnership

It is that form of organization which is owned and managed by two or more persons who invest and share the profits and losses according to a pre-determined ratio.

The participation of partners in the net income of the year under various independent assumptions.

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