Statement I: In the preparation of cash priority program, the partner who is most prone to losses is deemed to be the first priority in cash distribution. Statement II: In the case of partnership...

Statement I: In the preparation of cash priority program, the partner who is most prone to losses is deemed to be the first priority in cash distribution.

Statement II: In the case of partnership liquidation, when the partners’ interests are already in accordance with the P/L ratio, succeeding payments to the partners must be done in accordance with P/L.

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