Calculator Scoring: Your score will be based on the number of correct matches. There is no Match each statement to the appropriate term: Clear All Statement of partnership equity An association of two or more persons to own and manage a business for profit Partnership Each partner may act on behalf of the entire partnership so that the liabilities created by one partner become the fiabilities of all partners Mutual agency The share of loss on realization is greater than the balance in partner capital Deficiency Where changes in partner capital accounts for a period of time are reported