In the Liquidation of a Partnership Any Partner Who Has

question 105

Multiple Choice

In the liquidation of a partnership any partner who has a capital deficiency

• A) has a personal debt to the partnership for the amount of the deficiency.
• B) is automatically terminated as a partner.
• C) will receive a cash distribution only on the basis of his or her income-sharing ratio.
• D) is not obligated to make up the capital deficiency.

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Definitions:

Atomic Number

The number of protons in the nucleus of an atom, defining the element's identity.

Nucleus

The membrane-bound organelle found in eukaryotic cells that contains most of the cell's genetic material, functioning as the control center of the cell.

Neutrons

Subatomic particles found in the nucleus of an atom with no electrical charge and a mass roughly equal to that of protons.

Protons

Positively charged particles located within an atom's nucleus, contributing to the atom's mass and defining the element's atomic number.