If a Withdrawing Partner Receives Assets Worth More Than the Book

question 11

True/False

If a withdrawing partner receives assets worth more than the book value of his or her equity,the capital accounts of the remaining partners decrease.

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Definitions:

Ethnicity

A category of identity based on common language, culture, ancestry, or social practices.

National Origin

Refers to the country where a person was born, or where their ancestors came from.

Business Necessity

A defense to an allegation of employment discrimination in which the employer demonstrates that an employment practice that discriminates against members of a protected class is related to job performance.

Employment Discrimination

Unfair or unequal treatment of workers based on certain attributes such as age, sex, race, or disability, rather than job performance or qualifications.