Below Are Steps in Which Partnership Distribution Takes Place

question 54

Multiple Choice

Below are steps in which partnership distribution takes place:
1) Profits and losses are allocated to partner accounts.
2) Distributions are made to partners.
3) Assets must be used to discharge creditor obligations.
4) Partners with deficit balances should make up the balance or other partners make it up.
In what order should these occur?

• A)3,1,2,4
• B)1,3,4,2
• C)1,3,2,4
• D)3,1,4,2

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Definitions:

Interrole Conflict

A situation where an individual faces incompatible demands from different roles they are expected to fulfill.

Intersender Role Conflict

A situation in which conflicting expectations arise from two or more roles within different departments or groups.

Extrasender Role Conflict

Conflict arising when individuals receive incompatible demands from external sources outside their immediate role or job.

Intrasender Role Conflict

A situation where an individual receives conflicting messages or expectations from the same source.