Discussion Question $21-1($LO$.1)$

$1.$ Complete the sentence that defines what a partnership agreement is$.$

A partnership agreement is an agreement among the partners regarding

of

$.$

$2.$ Regarding provisions of a partnership agreement, classify each of the following as "Yes" it would be included or $"$No$"$ it would not.

a$.$ The rights and obligations of the partners.

b$.$ The allocation of income, deductions, and cash flows.

c$.$ The persons $($individuals$)$ that can be partners.

d$.$ The conditions for terminating the partnership.

e$.$ The initial and future capital contribution requirements.