Upon liquidation of a partnership,gains and losses on the sale of assets are divided according to the partner's capital balances.

Name: Upon liquidation of a partnership,gains and losses on the sale of assets are divided according to the partner's capital balances.
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Gains and losses on the sale of assets during the liquidation of a partnership are divided according to the partnership agreement, which may not necessarily align with the partners' capital balances.

Upon Liquidation of a Partnership,gains and Losses on the Sale