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Partnership: Winding Up, Partnership Accounts, and Distribution of Profits and Losses

This is an introduction to the sharing of profits and losses by partners in a general partnership. The lesson has three parts: (1) a general introduction to the default rules concerning how partners share profits and losses; (2) a discussion of partnership accounts; and (3) a discussion of the distribution rules applicable when a partnership is dissolved and its business is wound up.

Lesson Completion Time

45 minutes
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Lesson Authors

Lesson ID

CORP16