Match the items below by entering the appropriate code number in the space provided. (Points : 5) Solution 1)Admitted by investment 2)Unlimited liablity 3) Partnership agreement 4) Distribution of cash to partners in liquidation of a partnership 5) purchase interest 6)Partner\'s capital statement 7) Partnership liquidation 8) mutual agency 9)income ratio 10) Capital deficiency .

1. Match the items below by entering the appropriate code number in the space provided.
(Points : 5)
Potential Matches:
1 : Results in an increase in total net assets and total capital of the partnership.
2 : Each partner is personally and individually liable for partnership debts.
3 : Written contract establishing duties and responsibilities of partners.
4 : Made on basis of partners' capital balances.
5 : Total net assets and total capital of the partnership do not change.
6 : Explains changes in individual partner's capital accounts during a period.
7 : Business terminates.
8 : Each partner can bind the partnership so long as the action appears to be appropriate for the
partnership.
9 : The basis for sharing income and losses.
10 : Capital account with a debit balance.
Solution
1)Admitted by investment
2)Unlimited liablity
3) Partnership agreement
4) Distribution of cash to partners in liquidation of a partnership
5) purchase interest
6)Partner's capital statement
7) Partnership liquidation
8) mutual agency

2. 9)income ratio
10) Capital deficiency