Which of the Following Does NOT Have to Occur for a Partnership

question 7

Multiple Choice

Which of the following does NOT have to occur for a partnership allocation to have "substantial economic effect?"

• A) An adjustment must be made in the partner's capital account.
• B) Liquidation proceeds must be distributed in accordance with capital accounts.
• C) Profits and losses must be allocated to different partners in proportion to their equity contribution.
• D) Following the distribution of sale proceeds,partners must be liable to the partnership to restore any deficit in their capital account.

---

Definitions:

Auto Arrays

Automatically allocated arrays whose size is determined during runtime, primarily in languages like C and C++.

Function

A self-contained block of code that performs a specific task and can be reused throughout a program.

Execution

The process of running a computer program or a specific part of the program.

Static Arrays

Static arrays are arrays whose size is fixed at compile-time, and they cannot be resized during program execution.