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Which the partner who should first receive cash

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Reference no: EM132744911

Problem 1: The partner who should first receive cash under an installment distribution plan is the partner who

a. Can absorb the largest possible loss

b. Has the biggest capital balance

c. Has the smallest profit and loss percentage

d. Has the biggest profit and loss share

Problem 2: Before dissolution takes effect, liabilities should be restated at their

a. fair market values

b. present values

c. liquidating values

d. historical values

Reference no: EM132744911

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