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If a limited liability partnership is incorporated, the corporation generally records the amount of the partnership's allowance for doubtful accounts, but does not record the accumulated depreciation of plant assets transferred to the corporation by the partnership.

True
False

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Final answer:

The statement is false as a corporation acquiring assets from a partnership must record all aspects including both allowance for doubtful accounts and accumulated depreciation to ensure accurate financial reporting.

Step-by-step explanation:

The statement that a limited liability partnership's corporation generally records the amount of the partnership's allowance for doubtful accounts but does not record the accumulated depreciation of plant assets transferred to the corporation by the partnership is false.

When a corporation acquires the assets of a partnership, it must record all aspects of those assets, including both their current value and any associated allowances or adjustments, such as the allowance for doubtful accounts and accumulated depreciation. This ensures that the financial statements of the corporation accurately reflect the value of the assets and the potential liabilities that come with them.

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