In a partnership, a capital deficiency occurs for a partner when   Options: • His share in the losses of the partnership is more than his capital balance • Loan payable by the partnership to him greater than his capital balance • His solvency is lesser than his capital balance • His personal assets are less than his personal liabilities

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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In a partnership, a capital deficiency occurs for a partner when

 

Options:

• His share in the losses of the partnership is more than his capital balance


• Loan payable by the partnership to him greater than his capital balance


• His solvency is lesser than his capital balance


• His personal assets are less than his personal liabilities

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