please answer both questions (don't have much questions left) Consider the following statements...
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Accounting
please answer both questions (don't have much questions left)
Consider the following statements about a Partnership Agreement: 1. A Partnership Agreement is signed by the managing partner of the partnership on behalf of each of the partners. IL A Partnership Agreement should not mention profit and loss sharing because upon signing it is unknown whether the partnership will be profitable. II. The Partnership Agreement should outline the rules of dissolution. 1. Best practice is for a Partnership Agreement to include a financial forecast for at least three years. Which of the following is true? Multiple Choice O Only I and Ill are true O Only I and III and IV are true O Only Ill is true O O O All the statements are true O All the statements are false The journal entries accompanying a cash dividend occur on: Multiple Choice The date of record and the date of payment The date of declaration and the date of payment The date of authorization and the date of record None of the above The date of authorization and the date of payment
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