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17 July, 16:50

Details of the division of partnership income should normally be disclosed in the financial statements. a. Trueb. False

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  1. 17 July, 18:02
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    a. True

    Explanation:

    A partnership is a form of business that is owned by 2 or more people through signing of a partnership agreement. Each person is responsible for all the decisions made in the partnership and they share the net income. Details of how the net income is distributed is mentioned in the Partnership income statement. It will be divided equally among the partners as mentioned in the partnership agreement.
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