Asked by Yesenia Lazarte on Jul 27, 2024
Verified
After all liabilities have been paid, the remaining assets are distributed based on equal share to partners.
Remaining Assets
Assets that are left over after certain liabilities or expenses have been deducted.
- Distinguish between the distribution processes with equal and unequal share to partners.
Verified Answer
CC
Carlos CabreraJul 29, 2024
Final Answer :
False
Explanation :
The distribution of remaining assets to partners after all liabilities have been paid is based on the partnership agreement, which may not necessarily dictate equal shares for each partner. It often depends on the proportion of ownership or the initial agreement made when the partnership was formed.
Learning Objectives
- Distinguish between the distribution processes with equal and unequal share to partners.
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