O Only one schedule needs to be prepared throughout the liquidati The schedule assumes that remaining non-cash assets can be sold at book value. The schedule allocates a cash payment to the partner with the highest maximum loss absorbable before the other partners O The schedule assumes that when partners have deficit capital balances, their personal assets will only cover portion; but not all of their deficits. D Question 2 2.5 p When the parent lends the subsidiary and accepts a note for the debt The interest revenue and interest expense recorded in the two companies' individual books will always be reported on the consolidated financial statements. O All of these statements are correct. The interest revenue and interest expense recorded in the two companies' individual books will not be eliminated in their income distribution schedules. O When the parent discounts the note at a non-affiliated bank, only the interest revenue on the note will be reported on the consolidated financial statements, while the interest expense will be eliminated. D Question 3 80 F3 Minction? Pro 2.5 pt: 000 000 00 DIL 44 FA FS F6 F7 FB FO de