View Policies

Current Attempt in Progress

In the liquidation of a partnership, any partner who has a capital deficiency

will receive a cash distribution only on the basis of his or her income$-$sharing ratio. is automatically terminated as a partner.

has a personal debt to the partnership for the amount of the deficiency.

is not obligated to make up the capital deficiency.

Save for Later

Attempts: $0$ of $1$ usec