The First Step in Preparing an Advance Cash Distribution Plan

question 33

Multiple Choice

The first step in preparing an advance cash distribution plan is to:

• A) determine the order in which partners are to participate in cash distributions.
• B) compute the amount of cash each partner is to receive as it becomes available for distribution.
• C) allocate any gains (losses) to the partners in their profit-sharing ratio.
• D) determine the net capital interest of each partner.

---

Definitions:

Complaint

An expression of dissatisfaction or a formal accusation against someone or something.

Telephone Triage

The process of assessing patient's health concerns over the phone to determine the urgency and type of medical care required.

Symptoms

Signs or indications of a condition or disease experienced by an individual, which can vary widely in their presentation and severity.

Courtesy

The showing of politeness in one's attitude and behavior toward others; a polite gesture or remark.