When a partnership is liquidated, the assets are sold and the cash realized is applied first to the
a. partners' equity accounts.
b. claims of creditors.
c. partner with the largest investment in the partnership.
d. partners according to their ownership interest as indicated by their capital account.
b
You might also like to view...
Which of the following is a performance measure of internal business processes?
a. Number of new customers. b. Time taken to replace defective products. c. Percentage of employees trained in new processes. d. Revenue from new products.
Think about the ethical values set forth in AMA's Code of Ethics. Which value is represented when a firm accepts constructive criticism from customers and other stakeholders?
A. respect B. responsibility C. honesty D. transparency E. fairness
A _____ is binding and directly applicable in all member states; and a _____ sets forth the result to be achieved but leaves to the individual states the responsibility to employ the appropriate steps
A) regulation; directive B) rule; resolution C) resolution; rule D) directive; regulation
What is the difference between off-line and online resources?
What will be an ideal response?