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How is a partner loss absorption potential computed

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Reference no: EM132744868

Problem 1: Which of the following does not result in the dissolution of a partnership?

a. Death of a partner

b. Admission of a new partner

c. Retirement of a partner

d. Sale of inventory at less than its cost

Problem 2: How is a partner's loss absorption potential computed?

a. Multiply her pre-liquidation capital balance by her P & L ratio

b. Multiply her pre-liquidation capital balance by her fractional share of profits and losses

c. Divide her pre-liquidation capital balances by her P & L ratio

d. Divide her P & L ratio by her pre- liquidation capital balances

Reference no: EM132744868

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