In Some Liquidations,a Partner's Share of the Loss Is Greater

question 146

Multiple Choice

In some liquidations,a partner's share of the loss is greater than his or her capital balance.In such a situation,

• A)the partner must make up the deficit in his or her Capital account from personal assets.
• B)if the partner does not have the cash to cover his or her obligations,the deficit is distributed according to the partners' stated ratios.
• C)all partners have unlimited liability.
• D)All of these choices.

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