When a partner withdraws his or her equity for cash,the corresponding capital account will be closed.

Name: When a partner withdraws his or her equity for cash,the corresponding capital account will be closed.
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Question

Quizplus · Accepted Answer

When a partner withdraws his or her equity for cash, the amount will be deducted from the capital account, resulting in a decrease in the partner's equity. The capital account will not be closed, but rather updated to reflect the new balance.

When a Partner Withdraws His or Her Equity for Cash,the