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If Cash Payments to Partners of a Limited Liability Partnership

Question 16

Multiple Choice

If cash payments to partners of a limited liability partnership in liquidation are delayed until all noncash assets have been realized, any cash remaining after all partnership creditors have been paid is distributed:


A) According to the liquidator's best judgment
B) In the ratio for sharing net income and losses
C) In amounts equal to the partners' loan and capital account balances
D) In some other manner

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