Which of the Following Is True About Charging a Partner's

question 42

Multiple Choice

Which of the following is true about charging a partner's capital account during distribution?

• A)Losses from sale of partnership assets during winding up are not charged against a partner's capital account.
• B)Partners are given the gross amount existing in their capital accounts.
• C)On account of negative balance in a partner's account,other partners are under no obligation to contribute to set off the shortage.
• D)If partnership creditors cannot be paid from the partnership assets,the creditors may proceed against the partners' capital accounts.

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Definitions:

Class A

Often refers to a category or classification in various contexts, but without specific detail, the term is too broad for a technical definition.

New Operator

The new operator in programming languages like Java is used to create new instances of objects, allocating memory for a new object and returning a reference to it.

Memory Allocation

The process of assigning blocks of memory for various purposes in a computer program dynamically.

Variable

A symbolic name associated with a value and whose associated value may be changed.