Solved

In the Liquidation of a Partnership Any Partner Who Has

Question 109

Multiple Choice

In the liquidation of a partnership any partner who has a capital deficiency


A) has a personal debt to the partnership for the amount of the deficiency.
B) is automatically terminated as a partner.
C) will receive a cash distribution only on the basis of his or her income-sharing ratio.
D) is not obligated to make up the capital deficiency.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents