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    Exam 12: Accounting for Partnerships and Limited Liability Companies
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    In a Partnership Liquidation, If a Partner Has a Debit
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In a Partnership Liquidation, If a Partner Has a Debit

Question 48

Question 48

True/False

In a partnership liquidation, if a partner has a debit capital balance in his or her capital account, he or she is responsible for contributing personal assets sufficient to eliminate the deficit.

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