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16. When the assets of a partnership are sold to liquidate a partnership, the cash received is a. divided among the partners based upon their

16. When the assets of a partnership are sold to liquidate a partnership, the cash received is a. divided among the partners based upon their income-sharing ratios. b. divided among the partners in proportion to their loss-sharing ratios. C. used to pay partnership creditors after partners have recovered all of their capital. d. none of the above

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