While Liquidating a Partnership,the Cash Remaining After Paying All Liabilities

question 85

True/False

While liquidating a partnership,the cash remaining after paying all liabilities is paid to the partners based on their profit-and-loss-sharing agreement.

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Definitions:

Nervous System

The network of nerve cells and fibers that transmits nerve impulses between parts of the body, overseeing both voluntary actions and the functioning of internal organs.

Homeostasis

The autonomous mechanism through which life forms uphold equilibrium as they adapt to variations in environmental conditions.

Osteoporosis

A condition characterized by decreased bone density and increased fragility of bones, leading to an elevated risk of fractures.

Urinary System

A group of organs in the body responsible for filtering blood to produce, store, and eliminate urine.