Solved

In Some Liquidations,a Partner's Share of the Loss Is Greater

Question 146

Multiple Choice

In some liquidations,a partner's share of the loss is greater than his or her capital balance.In such a situation,


A) the partner must make up the deficit in his or her Capital account from personal assets.
B) if the partner does not have the cash to cover his or her obligations,the deficit is distributed according to the partners' stated ratios.
C) all partners have unlimited liability.
D) All of these choices.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions