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Question Not yet a Marked Flaga 11. When a partnership is insolvent and a partner has a deficit capital account balance, that partner should 1.

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Question Not yet a Marked Flaga 11. When a partnership is insolvent and a partner has a deficit capital account balance, that partner should 1. Declare personal bankruptcy, 2. Initiate legal proceedings against the partnership, 3. Contribute enough cash to the partnership to offset their deficit. 4. Deliver a note payable to the partnership with specific payment terms. 5. None of these answer choices are correct. The partner has no legal responsibility to cover capital deficit balance the

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