When a partnership is liquidated, how is the final distribution of partnership cash made to the partners?
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When a partnership is liquidated, how is the final distribution of partnership cash made to the partners?
a. Equally
b. According to the profit and loss ratio
c. According to the final capital account balances
d. According to the initial investment made by each of the partners
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Related Book For
Advanced Accounting
ISBN: 9781260247824
14th Edition
Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik
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