Go to the website www.napico.com and click on Partnership Financial Information-Click Here. Then click on 2015 Annual
Question:
Read the financial statements contained in the 2015 annual report and the accompanying notes, especially any that discuss the partnership form of organization.
Assume that an investor is considering investing in this partnership and has downloaded this report for study and analysis.
Required
1. What differences exist between Real II's financial statements and those of a corporation?
2. Assume that this investor is not aware of the potential implications of investing in a partnership rather than a corporation. What information is available in these statements to advise this individual of the unique characteristics of this legal business form?
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Step by Step Answer:
1 In looking at the financial statements of a partnership a number of obvious differences can be spotted in comparison to the financial statements of ...View the full answer
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Related Book For 
Fundamentals of Advanced Accounting
ISBN: 978-1259722639
7th edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
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