Question: please answer me i have 10 min When allocating profit or loss in a partnership, partners must allocate profit or loss based on their capital

please answer me i have 10 min
please answer me i have 10 min When allocating profit or loss
in a partnership, partners must allocate profit or loss based on their
capital balances. True False In liquidating a partnership, capital deficiency exists when
all partners have a credi balance in their capital accounts. True False

When allocating profit or loss in a partnership, partners must allocate profit or loss based on their capital balances. True False In liquidating a partnership, capital deficiency exists when all partners have a credi balance in their capital accounts. True False Cash withdrawals by a partner are increasing his/her capital account. True False When a new partner is admited to an existing partnership, the business (the company) must be closed and re-open again. True False

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