Which of the Following Statements About the Liquidation of a Partnership

question 12

Multiple Choice

Which of the following statements about the liquidation of a partnership is TRUE?

• A)The final cash distribution is always based on equal shares.
• B)The final cash distribution is based on the partners' capital account balances.
• C)Gains and losses from the disposal of assets are always distributed to the partner's capital accounts based on their respective percentage of total capital.
• D)The final cash distribution is always based on the profit sharing formula specified in the partnership agreement.

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Definitions:

Manual Lift

The act of lifting or moving a person or object using human strength, without mechanical assistance, often involving specific techniques to prevent injury.

Agency Lift Team

A specialized group within a healthcare facility responsible for lifting and transferring patients safely, aiming to reduce the risk of injury for both patients and staff.

Mechanical Lift

An equipment designed to assist in the lifting and moving of patients, reducing the risk of injury for both the patient and healthcare worker.

Manual Lifting

The act of picking up or moving objects using human strength and effort rather than mechanical aids.