A gain on the sale of assets in the liquidation process is recognized and allocated to the partners' capital accounts.

Name: A gain on the sale of assets in the liquidation process is recognized and allocated to the partners' capital accounts.
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When an asset is sold during the liquidation process, any gain from the sale is recognized and allocated to the partners' capital accounts according to their profit-sharing ratios.

A Gain on the Sale of Assets in the Liquidation