1. The Revised Uniform Partnership Act contains a. The rule of setoff. b. The use of a cash distribution plan c. The marshalling of assets principle. d. The special profit and loss sharing method. e. None of the above. 2. Under the Revised Uniform Partnership Act, gains and losses incu assets are to be allocated among the partners a. Using the ratio of the partners' capital balances. b. In their normal profit and loss sharing ratio. e. Using the marshalling of assets prineiple. d. Equally. e. None of the above. 3. Under the Revised Uniform Partnership Act, a. The claims she claims of a partner's personal creditors against a partner's personal b. A partner's personal creditors have second priority against partnership assets, first of partnership creditors of an insolvent partnership have no greater or lesser legal status than the assets. priority going to partnership creditors Partnership creditors have first priority against a partner's personal assets. c. d. N pertrer phrsonal creditors ave first priority against partnership assets. e. None of the above. In preparing a cash distribution plan at the start of a partnership liquidation, a. The capital and loan balances of the partners are not combined. b. The capital and loan balances of the partners are combined. c. The two worst-case assumptions are used d. The marshalling of assets principle is applied. e. None of the above. 4. Which of the following is not a feature of a partnership installment liquidation? a. Cash may be distributed to partners before all liabilities have been paid. b. The process requires the accountant to periodically estimate remaining liquidation 5. expenses. c. The process occurs over an extended period of time. d. The process always results in a single cash payment to partners. Deduct 3 points for each incorrect an