Answer the following statements true (T) or false (F)
1. When a partner withdraws his or her interest in the partnership, both assets and equity will decrease.
2. If a withdrawing partner receives assets worth more than the book value of his or her equity, the capital accounts of the remaining partners decrease.
3. When a partner withdraws his or her equity for cash, the corresponding capital account will be closed.
4. When a partner dies, the partnership ceases to exist, and the deceased partner's estate will have ownership of the partner's equity in the partnership.
1. True
2. True
3. True
4. True
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A. Entitleds B. Benevolents C. Egalitarians D. Equity sensitives
Customers substituting the firm's product for a competitor's product is
A) market growth. B) stealing share. C) forward selling. D) forward buying.
Liability arising out of which of the following is covered under Coverage E of an unendorsed Homeowners 3 policy?
A) use of the insured's auto on a public road B) use of the insured's golf cart at a golf course C) use of the insured's motorcycle on a highway D) use of the insured's 40-foot boat with a 200 horsepower engine
Intelligence is not clearly related to leadership.
a. true b. false