Final answer:
The statement provided is false; in calculating potential loss during a liquidation, liabilities must be settled before distribution to partners, considering the principles of limited liability and the balance between assets and net worth as shown in a T-account.
Step-by-step explanation:
The statement that in the computation of the amount of cash that may be paid to partners of a liquidating limited liability partnership on a specific date, accountants may assume that the maximum potential loss will be equal to the total of remaining noncash assets plus estimated liquidation costs is false. In a liquidation scenario, the potential loss would be calculated based on the liabilities that need to be settled before any distribution to partners occurs. The total noncash assets and estimated liquidation costs would be part of the overall assessment, but liabilities and any claims with a higher priority would need to be accounted for first. The concept of limited liability means that partners are typically not personally responsible for the business's debts beyond their investment in the partnership unless fraud or other illegal activities are involved. According to the basics of T-account accounting, for any company including a bank, assets must equal liabilities plus net worth, where net worth is the total assets minus total liabilities.