On dissolution,a partnership requires

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On dissolution, the partnership requires payment of debts before the distribution of assets. This is because the creditors of the partnership have a right to be paid before the partners can share the remaining assets. Partners may share losses equally if that was agreed upon in the partnership agreement, but it is not a requirement in general. Limited partners are not liable for the debts of the partnership beyond their investment, so they may not be required to assist in payment of debts.

On Dissolution,a Partnership Requires