How may the capital deficiency of an insolvent partner can be eliminated?
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How may the capital deficiency of an insolvent partner can be eliminated?
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- Can a partners personal assets in a limited liability partnership be at risk?In the liquidation of a partnership, why might a partner be concerned that a fellow partner has a deficit net capital balance, and how might such a deficit be eliminated?What decreases a partner's interest in a partnership?
- According to the Uniform Partnership Act, what events should occur if a partner incurs a negative capital balance during the liquidation process?Which of the following methods of partnership admission will not result in a change in partnership capital?What is the basis of capital sharing if the partners do not have an agreement as to the amount of their individual capital contribution?
- Why an outstanding weakness of a limited partnership interest as an investment is its lack of liquidity or marketability?What are disadvantages of proprietorship and partnership?Which of the following does not have a legitimate insurable interest? A) An individual on the life of his mistress B) An individual on his own life C) An individual on the life of his spouse D) A finance company on the life of its borrower
- Describe the difference between a right of first refusal, an option agreement and a buy-sell agreement. Which type of transfer restriction can guarantee a buyer for a shareholder's investment in the event of death, retirement or disability?An estate cannot be treated as a partnership. True or false?A capital deficiency can be eliminated by the following except A.Offsetting against a partner’s loan B.Additional investment C.Selling non cash assets at a gain D.Loss to the other partners
