On partnership dissolution, if a partner's capital account has a debit balance and the partner is insolvent, the deficiency will. in accordance with the decision of the case of the Garner V Murray. be ____________
A. Borne by all the partners B. Borne by the insolvent partner C. Written off D. Borne by the solvent
Correct Answer: D
Explanation
The rule in Garner V MURRAY is that the accumulated total cash and non - cash realization, discharge the external liabilities when there is sufficient funds and the assumed loss transferred to the solvent partner.
