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QUESTIONS What should the journal entry be for sale of stoon lition of partnership? Debit cash in bank, de the capital account of each partner count Debit cash in bark, credit the capital out of each partner count Debit cash in bark, credit sccount Debit asset account it cash in bank QUESTION 9 Conversion of the ratio 42 into a fraction gives 8/6 and 2/6 4/8 and 2/6 2/4 and 2/1 1/2 and 1/2 QUESTION 10 The basis for dividing profits and losses based on capital investment is: equality among all partners capital at the beginning of the period. capital at the end of the period. services of partners QUESTION 11 An employee directly responsible for creating business conduct programs, evaluating performance, and enforcing standards of conduct is called a/ar: manager. controller ethics officer partner QUESTION 12 When both a partnership and a partnership business end, it is called a/an: dissolution liquidation agreement termination