When a partnership is liquidated: Any remaining cash is distributed to the partners based on their capital balances. Noncash assets are converted to cash. Any gain or loss on liquidation is allocated to the partners' capital accounts using the income and loss sharing ratio. Liabilities are paid or settled. All of these.

When a partnership is liquidated:

	Any remaining cash is distributed to the partners based on their capital balances.
	Noncash assets are converted to cash.
	Any gain or loss on liquidation is allocated to the partners' capital accounts using the income and loss sharing ratio.
	Liabilities are paid or settled.
	All of these.

Answer
All of these.