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:

EDD

Stands for Earliest Due Date, a rule used in production and operations management to prioritize jobs, tasks, or items that have the earliest due dates first.

SPT

Shortest Processing Time, a rule used in job sequencing to decrease the total amount of time required to complete a set of jobs by processing the shortest job first.

LPT

Longest Processing Time; a rule used in job scheduling that sequences jobs in decreasing order of their processing times.

Due Date

The specific date by which something is supposed to be completed or paid.