Write the word or group of words that identify each of the following statements. 1. An entry prepared when industry is contributed into the partnership. 2. A partnership organized for the purpose of rendering service. 3. A contract whereby two or more persons bind themselves to contribute money, property, or industry to a common fund with the intention of dividing profits among themselves.
Write the word or group of words that identify each of the following statements. 1. An entry prepared when industry is contributed into the partnership. 2. A partnership organized for the purpose of rendering service. 3. A contract whereby two or more persons bind themselves to contribute money, property, or industry to a common fund with the intention of dividing profits among themselves.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Write the word or group of words that identify each of the following statements.
1. An entry prepared when industry is contributed into the
2. A partnership organized for the purpose of rendering service.
3. A contract whereby two or more persons bind themselves to contribute money, property, or industry to a common fund with the intention of dividing profits among themselves.
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