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Which the partner capital account will be credited for

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Reference no: EM133001025

Problem 1: In a limited partnership,

a. all partners have limited liability,

b. all but the general partners have limited liability.

c. all but the general partners have unlimited liability.

d. all general partners have limited liability.

Problem 2: A partner invested in a partnership a land with a P250,000 carrying value and P400,000 fair market value. The related mortgage payable of P 125,000 was assumed by the partnership. As a result of the investment, the partner's capital account will be credited for

a. P400,000

b. P250,000

c. P275,000

d. P125,000

Reference no: EM133001025

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