ACCOUNTING FOR PARTNERSHIPS Flashcards
1
Q
define a partnership business
A
2
Q
state the features of a partnership
A
3
Q
give reasons for establishing
partnerships
A
4
Q
outline the essential components
of a partnership agreement
A
5
Q
What are the various methods to share
profit/loss among partners;
A
6
Q
The significance of the debit and credit
balances brought down on the current
accounts.
A
