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Which of the following statements about partnerships is incorrect?Group of answer choicesPartnership assets are co - owned by partners.If a partnership is terminated, the assets
Which of the following statements about partnerships is incorrect?Group of answer choicesPartnership assets are coowned by partners.If a partnership is terminated, the assets do not legally revert to the original contributor.If the partnership agreement does not specify the manner in which net income is to be shared, it is distributed according to capital contributions.Each partner has a claim on assets equal to the balance in the partner's capital account.
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