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Explain the purpose of the formal Articles of Partnership

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Question -

A. Explain the purpose of the formal Articles of Partnership.

B. List at least 8 provisions that should be discussed in the Articles of Partnership.

C. If the Articles of Partnership fails to discuss the partners' income/loss sharing ratios, how must income/losses be allocated among the partners?

D. What are the risks to the partners, if the partnership is formed without a formal written Articles of Partnership agreement?

Reference no: EM133152693

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