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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SELL-THROUGH, in retail sales, is the number of product distributed that are actually sold, e.g. movies sold as compared to rented.

NOMINAL ACCOUNTS are those accounts that are closed out each period: revenue accounts, expense accounts, and dividend or withdrawals accounts.

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