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Which is not correct with respect to installment liquidation

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Problem 1: Which of the following is not correct with respect to an installment liquidation of a partnership?

a. ALL REMAINING LIQUIDATION EXPENSES ARE ANTICIPATED.

b. all non-cash assets are assumed to be worthless

c. distributions to partners are always made according to their profit sharing percentages

d. partners with the greatest ability to absorb losses and expenses are the first to receive installment distributions

Reference no: EM132840891

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