If a partnership has only non-cash assets, all liabilities have been properly disbursed, and no additional liquidation expenses are expected, the maximum potential loss to the partnership in the liquidation process is:

Question

Quizplus · Accepted Answer

If a partnership has only non-cash assets and no additional liquidation expenses are expected, the maximum potential loss to the partnership in the liquidation process is the book value of those non-cash assets (assuming there is no proceeds in selling them).

If a Partnership Has Only Non-Cash Assets, All Liabilities Have