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The Doctrine of Marshaling of Assets

Question 35

Multiple Choice

The doctrine of marshaling of assets


A) is applicable only if the partnership is insolvent.
B) allows partners to first contribute personal assets to unsatisfied partnership creditors.
C) is applicable if either the partnership is insolvent or individual partners are insolvent.
D) provides that when the Uniform Partnership Act is adopted, amounts owed to personal creditors and to the partnership for debit capital balances are shared proportionately from the personal assets of the partners.

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