How does partnership accounting differ from corporate accounting? Multiple Choice Revenues are recognized at a different time by a partnership than is appropriate for a corporation. Individual capital accounts replace the contributed capital and retained earnings balances found in corporate accounting. The matching principle is not considered appropriate for partnership accounting. Partnerships report all assets fair value as of the latest balance sheet date. Which of the following best describes the articles of partnership agreement? Multiple Choice The articles of partnership are a legal covenant that may be expressed orally or in writing, and forms the central governance for a partnership's operations. The articles of partnership are an agreement that limits partners' liability to partnership assets. The articles of partnership are a legal covenant and must be expressed in writing to be valid. O The purpose of the partnership and partners' rights and responsibilities are required elements of the articles of partnership