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Which of the following statements are true regarding owners' equity and ownership rights held in noncorporate entities? More than one answer may be correct.

Owners' equity for proprietorships and partnerships is usually referred to as capital.

Distributions to owners during the year $($sometimes referred to as withdrawals$)$ are treated as expenses.

No distinction is made between invested capital and retained earnings for a proprietorship or a partnership.

Each partner ordinarily has a voice in the management of the firm that is proportionate to his or her capital account balance.

Neither proprietorships nor partnerships issue stock.