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Q 1 The characteristics of a partnership include the following: (a).Association of individuals, (b).limited life, and (c).coownership of property. Explain each of these terms. Q

Q 1 The characteristics of a partnership include the following: (a).Association of individuals, (b).limited life, and (c).coownership of property. Explain each of these terms. Q 2 Why is the statement of cash flows useful?

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