Under general circumstances, debt is allocated from the partnership to each partner in the following...
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Accounting
Under general circumstances, debt is allocated from the partnership to each partner in the following manner:
- Recourse - profit sharing ratios; nonrecourse - to partners with the ultimate responsibility for paying the debt
- Recourse - capital ratios; nonrecourse - capital ratios
- Recourse - profit sharing ratios; nonrecourse - profit sharing ratios
- Recourse - to partners with the ultimate responsibility for paying the debt; nonrecourse - profit sharing ratios
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