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QUESTION
Partnership income and losses are usually divided on the basis of interest, salaries, and stated ratios because: partners seldom contribute time and...
Partnership income and losses are usually divided on the basis of interest, salaries, and stated ratios because:
a. partners seldom contribute time and resources equally
b. this method reflects the amount of time devoted to the partnership by the partners.
c. it is simpler than following the legal rules.
d. it prevents arguments among the partners.
