In the Process of Liquidation, a Partnership Firm Sells Its

question 29

Multiple Choice

In the process of liquidation, a partnership firm sells its non-cash assets of a book value of $50,000, for $75,000. Which of the following will be included in the entry to record the sale of assets at liquidation?

• A)Gain on Disposal will be credited by $75,000.
• B)Gain on Disposal will be debited by $75,000.
• C)Gain on Disposal will be credited by $25,000.
• D)Gain on Disposal will be debited by $25,000.

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The feeling of being drawn to someone or something, often leading to sexual or romantic interest.

Gender Differences

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