If at the time of partnership liquidation, a partner has a $5,000 capital deficiency and pays the partnership $5,000 out of personal assets to cover the deficiency, then that partner is entitled to share in the final distribution of cash. true or false?

TRUE

Explanation:

At the time of capital deficiency and the partner pays the deficit amount using his personal asset, he is therefore entitled to his share in the final distribution of cash. In the event the partner did not pay the deficit amount during the deficiency, the said amount will be deducted by his share before he will be entitled to any excess. A partner that is bound up to his personal asset is the general partner. Limited partners are not liable up to their personal asset and bound only up to their capital contribution provided that they are registered in the articles of partnership as 'limited partner" and they will not take part in the management of the partnership.

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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