When dealing with the liquidation of a partnership interest,a partner will:

A) Never recognize a loss.
B) Only recognize a loss when property,inventory,and/or receivables are distributed.
C) Only recognize a loss when money,inventory,and/or receivables are distributed.
D) None of these.

Liquidation

The process of closing a business by selling its assets to pay off remaining debts, possibly leading to a final distribution of cash to stakeholders.

Receivables

Receivables refer to the funds that a company is entitled to receive from customers for goods or services delivered or agreed upon.