Partner has a capital deficiency, Accounting Basics

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Partner has a capital deficiency

If a partner has a capital deficiency and does not have the personal resources to eliminate it,

a. the creditors will have to absorb the capital deficiency

b. the other partners will have to absorb the capital deficiency on the basis of their respective income sharing ratios

c. the other partners will absorb the capital deficiency on the basis of their respective capital balances

d. neither the creditors nor the other partners will have to absorb the capital deficiency

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Accounting Basics: Partner has a capital deficiency

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Accounting Basics: Partner has a capital deficiency

Reference No:- TGS090011

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Partner has a capital deficiency

Reference No:- TGS090011

Recent Questions Asked Accounting Basics

Q : What is the new debt ratio

Q : The diluted urine samples in order to estimate

Q : Imagine an application that you would like to develop

Q : What is the adjusted bank balance

Q : Partner has a capital deficiency

Q : Cyanobacteria potentially be harmful to an aquatic ecosystem

Q : Suppose that firms are NOT owned by consumers.than

Q : How much cash is required to replenish the fund

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