When a Partner Is Unable to Pay a Capital Deficiency

question 45

Multiple Choice

When a partner is unable to pay a capital deficiency:

• A) The partner must take out a loan to cover the deficient balance.
• B) The deficiency is absorbed by the remaining partners before distribution of cash.
• C) The partnership ends before distribution of cash.
• D) The deficient partner is relieved of the liability.
• E) The remaining partners must wait for the deficiency to be paid before cash is distributed.

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