In order to avoid inequalities in the liquidation process the legal doctrine of setoff effectively treats loans from partners to the partnership as:
A. additional capital investments that can offset a partnership loss.
B. outside debt that can offset a deficit capital account balance.
C. inside debt that can offset a deficit capital account balance.
D. additional capital investments that can offset a deficit capital account balance.
Answer: D
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a. True b. False Indicate whether the statement is true or false
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A) I, II, III, and V B) I, III, IV, and VI C) I, II, III, IV, V, and VI D) I, III, IV, VI, and V
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