In accounting for the lump-sum liquidation of a partnership, cash payments to partners after all non-partner creditors' claims have been satisfied, but before the final cash distribution should be according to a. the final balances in partner capital accounts. b. the partners' relative share of the gain or loss on liquidation. c. the partners' relative profit and loss sharing ratio. d. safe payment computations.
In accounting for the lump-sum liquidation of a partnership, cash payments to partners after all non-partner creditors' claims have been satisfied, but before the final cash distribution should be according to a. the final balances in partner capital accounts. b. the partners' relative share of the gain or loss on liquidation. c. the partners' relative profit and loss sharing ratio. d. safe payment computations.
In accounting for the lump-sum liquidation of a partnership, cash payments to partners after all non-partner creditors' claims have been satisfied, but before the final cash distribution should be according to a. the final balances in partner capital accounts. b. the partners' relative share of the gain or loss on liquidation. c. the partners' relative profit and loss sharing ratio. d. safe payment computations.
In accounting for the lump-sum liquidation of a partnership, cash payments to partners after all non-partner creditors' claims have been satisfied, but before the final cash distribution should be according to
a. the final balances in partner capital accounts. b. the partners' relative share of the gain or loss on liquidation. c. the partners' relative profit and loss sharing ratio. d. safe payment computations.
Definition Definition Amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item
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