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Identify the Basic Issues That Should Be Expressly Addressed in a Partnership

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Essay

Identify the basic issues that should be expressly addressed in a partnership agreement,including the description of each respective clause.Lastly,indicate when a partnership agreement would have to be revisited.


Definitions:

Selling Price

The amount of money for which an item or service is sold in the market.

Operating Cash Flow

Represents the amount of cash generated by a company's normal business operations.

Interest Expense

The cost incurred by an entity for borrowed funds.

Tax Rate

The proportion of income or profits taken as tax by the government from an individual or company.

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