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    Accounting Study Set 4
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    Exam 12: Accounting for Partnerships and Limited Liability Companies
  5. Question
    In a Partnership Liquidation, Gains and Losses on the Sale
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In a Partnership Liquidation, Gains and Losses on the Sale

Question 23

Question 23

True/False

In a partnership liquidation, gains and losses on the sale of partnership assets are divided among the partners' capital accounts on the basis of their capital balances.

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