1. LO.1 What is a partnership agreement? What types of provisions does it include? 2. LO.1 What… 1 answer below »

1.     LO.1  What is a partnership agreement? What types of provisions does it include?

2.     LO.1 What is the difference between a general partnership and a limited liability company? When might each type of entity be used? Why?

3.     LO.2 Describe how a partnership reports its income for tax purposes. Who makes most elections related to partnership income and deductions? What  theory

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underlies this treatment?

 

 

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