Which of the following statements is correct? A. Capital contributed by each partner may be...
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Accounting
Which of the following statements is correct? A. Capital contributed by each partner may be in the form of cash or even equipment such as computers and vehicles. B. A credit balance in a partner's current account arises when the partner withdraws more than he/she is entitled to. C. All partnerships are restricted to only two partners. D. The capital contributions of the partners are recorded in a single capital account
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Which of the following statements is correct? A. Capital contributed by each partner may be in the form of cash or even equipment such as computers and vehicles. B. A credit balance in a partner's current account arises when the partner withdraws more than he/she is entitled to. C. All partnerships are restricted to only two partners. D. The capital contributions of the partners are recorded in a single capital account 