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4 The first step in the liquidation of a partnership is to: ed out of a. Allocate gain/loss on realization to the partners O b.

4 The first step in the liquidation of a partnership is to: ed out of a. Allocate gain/loss on realization to the partners O b. Pay partnership liabilities Distribute remaining cash to partners O d. Sell noncash assets and recognize a gain or loss on realization OC. question nus page

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