Question 7 5 points Save Answer What is the correct number sequence of the four steps from first step to last step for the liquidation of a partnership: 1. Allocate any gain or loss on liquidation of non-cash assets; 2 Record the sale of noncash assets at liquidation; 3. Record the payment of the outstanding liabilities; 4. Distribute the remaining cash based on partners' capital balances A. 1-4-3-2 B. 1-2-4-3 C. 2-1-4-3 D. 1-2-3-4 E. None of the above Question 8 What type of account is treasury stock? A. Contra Equity B. Contra Asset C. Equity-Capital D. Equity-Revenue E. None of the above