If at the Time of Partnership Liquidation, a Partner Has

question 112

True/False

If at the time of partnership liquidation, a partner has a $5,000 capital deficiency and pays the partnership $5,000 out of personal assets to cover the deficiency, then that partner is entitled to share in the final distribution of cash.

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Definitions:

Profit Orientation

A business approach focused on maximizing financial gains.

Social Enterprising

Business activities that are primarily focused on meeting social objectives, where profits are often reinvested into social causes.

Timmons Model

A model of entrepreneurship that emphasizes the dynamic balance between the entrepreneur, the opportunity, and the resources needed.

Entrepreneurial Process

The journey of identifying a business opportunity, resources acquisition, and the management of growing the business venture.