At the completion of the liquidation of a partnership,all accounts in the general ledger have a nil balance.

Name: At the completion of the liquidation of a partnership,all accounts in the general ledger have a nil balance.
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At the end of a partnership's liquidation process, all the assets have been sold and all the liabilities and expenses have been paid off, and the remaining cash is distributed to the partners. This process results in all accounts in the general ledger having a nil balance.

At the Completion of the Liquidation of a Partnership,all Accounts