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Dissolutions situations
There are two situations that need to be considered under dissolutions. These are:-1) Where the assets are sold at once (one single transaction)2) Assets are sold on piece meal basis.Under this situation, the partners are able to get a single buyer who buys al the assets in a single transaction. The buyer could be an individual, sole trader, another partnership or a company. this kind of situation is straightforward because the partners can be able to determine profit or loss on dissolution immediately.
Can you do the attacched quections by Monday?
A____ is a loss to the business and a gain to the debtor
what is the explanation?
Balance Sheet and Income Statement Commentary
notes on Gaap principles
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