Accountancy, asked by sankaracharya9311, 1 year ago

Who should bear the capital deficiency of insolvent partner? (Answer in one sentence)

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Answered by Nileshyadav41
2
The tests for an insolvent partnership are similar to the two generally accepted tests for an insolventcompany. If a partnership is: unable to pay its debts as they fall due; or. its assets, when realised in cash, would be insufficient to pay off its debts and other liabilities.

Answered by Anonymous
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