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3. Since partnerships are typically private organizations, they are not required to issue financial statements that are in conformity with GAAP. What are some of

3. Since partnerships are typically private organizations, they are not required to issue financial statements that are in conformity with GAAP. What are some of the more prominent departures from GAAP?

Please be specific. Please use your own words and do not copy and paste the answer from the test bank (I have it). Thank you.

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