ashACC 407 Week 1 DQ 1 Partnership

1

• ACC 407 Week 1 DQ 1 Partnership Agreements Case
  C15-1
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• a.  Discuss why a partnership agreement may need
  features in addition to the income and
  loss-sharing ratio.
• b. Discuss the arguments in favor of recording
  salary and bonus allowances to partners as
  expenses included in computing net income.
• c. What are the arguments against recording
  salary and bonus allowances to partners as
  partnership expenses?
• d. Some partnership agreements contain a
  provision for interest on invested capital in
  distributing income to the individual partners.
  List the additional provisions that should be
  included in the partnership agreement so the
  interest amounts can be computed.
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