Reference no: EM132744876

Problem 1: following events dissolve a partnership except

a. admission of a partner

b. change of the partnership name

c. conversion of a partnership to a corporation

d. impairment of partnership assets

Problem 2: In an installment liquidation plan, how is the amount of a cash distribution determined?

a. By multiplying a partner's P & L ratio by his capital before the liquidation

b. By subtracting a partner's loss absorption potential from the loss absorption potential of the next strongest partner

c. By subtracting a partner's loss absorption potential from the loss absorption potential of the next strongest partner and dividing this difference by his profit and loss ratio

d. By multiplying a partner's profit and loss ratio by the difference between his loss absorption potential and the loss absorption potential of the next strongest partners.