A partnership in liquidation has satisfied all of its nonpartner liabilities and has cash available for distribution

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A partnership in liquidation has satisfied all of its nonpartner liabilities and has cash available for distribution to partners. Under what circumstances would it be permissible to divide available cash in the profit and loss sharing ratios of the partners?

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Advanced Accounting

ISBN: 9780131851221

9th Edition

Authors: Floyd A. Beams, Robin P. Clement, Suzanne H. Lowensohn, Joseph H. Anthony

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