Problem $14-2($Static$)($LO $14-1)$

How does partnership accounting differ from corporate accourting?

Multuple Choice

The matching principle is not considered appropriate for partnership accounting

Partnerships teport all assets at flair value as of the latest balance sheet date.

Individual copital accounts replace the contributed cepital and retained earings belaves found in corporate accounting

Revenues are recognized at a different time by a patnerahip than is appropriable for a corporation.