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Marshall Retires from the Partnership of Marshall,Mark and Dennis

Question 75

Multiple Choice

Marshall retires from the partnership of Marshall,Mark and Dennis.Marshall had a capital balance of $15,000.If Marshall received $15,000 as final settlement,how will this transaction affect the balance sheet items?


A) Equity will decrease.
B) Liabilities will decrease.
C) Cash will increase.
D) Liabilities will increase.

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