Marty and Blake are equal partners in MB Partnership.The partnership reports the following items of income and expense: 
a.Which items are considered separately stated items? How will these items be reported to the partners? What form will be used?
b.Where (on what forms)will these amounts be reported by the partners?
Definitions:
Scientific Method
A systematic process of questioning, data collection, analysis, and hypothesis testing used to explore observations and answer questions.
Economic Model
A theoretical construct that represents economic processes by a set of variables and a set of logical or quantitative relationships between them.
Economic Conditions
The state of various factors that influence an economy at a given time, including inflation rates, unemployment levels, and the rate of economic growth.
Ceteris Paribus
A Latin phrase meaning "all other things being equal," used in economics to analyze the effect of one variable on another, holding all other relevant factors constant.
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