Reference no: EM132744876
Problem 1: following events dissolve a partnership except
a. admission of a partner
b. change of the partnership name
c. conversion of a partnership to a corporation
d. impairment of partnership assets
Problem 2: In an installment liquidation plan, how is the amount of a cash distribution determined?
a. By multiplying a partner's P & L ratio by his capital before the liquidation
b. By subtracting a partner's loss absorption potential from the loss absorption potential of the next strongest partner
c. By subtracting a partner's loss absorption potential from the loss absorption potential of the next strongest partner and dividing this difference by his profit and loss ratio
d. By multiplying a partner's profit and loss ratio by the difference between his loss absorption potential and the loss absorption potential of the next strongest partners.