Question: In a partnership liquidation, when a partner has a capital deficiency, the right of offset: (Points : 4) Reclassifies a partnership loan payable to the

In a partnership liquidation, when a partner has a capital deficiency, the right of offset: (Points : 4)

Reclassifies a partnership loan payable to the partner as part of her capital balance Allows the partner to invest personal assets to bring the capital balance to zero Requires all the other partners to have positive capital balances, to absorb the partner's capital deficiency Allows the partner to neutralize the deficiency using previously invested personal assets

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