Which of the following statements is true concerning the basic accounting treatment of a partnership?

Which of the following statements is true concerning the basic accounting treatment of a partnership?
A . The initial investment of each partner should be recorded at book value.
B . The ownership ratio identifies the basis for dividing net income and net toss.
C . A partner’s capital only changes due to net income or net loss.
D . The basis for sharing net incomes or net kisses must be fixed.

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Answer: A