FORM 1065 Definition

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FORM 1065 (Schedule K-1) is the domestic partnership income tax return form used in the U.S.

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EFFICIENCY is the ratio of the output to the input of any system.

EXPOSURE DRAFT is a proposed statement of financial accounting standards issued by the FASB for public comment. The exposure draft represents the FASBs considered judgment on a specific accounting issue. Subject to comments received and possible additional deliberation, an exposure draft may become a Statement of Position (SOP), mandating a Financial Accounting Standard (FAS).

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