represent the residual equity of the partnership business.
Chapter15: Partnership Accounting
Section: Chapter Questions
Problem 3PA: When a partnership is liquidated, any gains or losses realized by the sale of noncash assets are...
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![The partners' equity accounts with the corresponding balances represent the residual equity of the partnership business.
O True
False](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F726853e0-079d-432c-826e-8b734619aa75%2Fca6a70e5-8f7a-41d6-bd72-f848a541f6a1%2F16s9x8m_processed.png&w=3840&q=75)
Transcribed Image Text:The partners' equity accounts with the corresponding balances represent the residual equity of the partnership business.
O True
False
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