94 a edugen.wileyplus.com WileyPLUS Weygandt, Accounting Principles, 12e TIMER E
ID: 2593710 • Letter: 9
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94 a edugen.wileyplus.com WileyPLUS Weygandt, Accounting Principles, 12e TIMER End Time: 11:10 AM / Remaining: 1 min. ASSIGNMENT RESOURCES Exam 4a: NJR Multiple Choice Question 108 The liquidation of a partnership O cannot occur unless all partners approve. O eliminates those partners with a capital deficiency. O cannot be a voluntary act of the partners. O terminates the business. Multiple Choice Multiple Choice Question 165 Multiple Choice Multiple Choice Multiple Choice Question 39 Mu hoice ion By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor on 108 Question Attempts: e 256 2Brief Exercise 11-2 Brief Exercise 11-3 Brief Exercise 12-4 Review Score Review Results by Study Objective B. 2Explanation / Answer
Liquidation of partnership can be voluntary act of terminating the business by selling off all assets and distributing among the partners in the ratio of their capital contributions or can be done when one/more partners go insolvent i.e are not able to pay off their/partnerships dues.
Liquidation can happen even if a partner doesnt agree and it eliminates all partners as it involves wiping off the balance sheet of the company and distributing among all partners.
SO, the answer is Option D
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