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In the Liquidation of a Partnership, Any Partner Who Has

Question 103

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 profit-sharing ratio.
D) is not obligated to make up the capital deficiency.

Correct Answer:

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