Allen, Branden & Caylin Are in the Process of Liquidating

question 49

Multiple Choice

Allen, Branden & Caylin are in the process of liquidating their partnership. They have the following capital balances and profit and loss percentages: The partnership balance sheet shows cash of $5,000, non-cash assets of $14,000, and no liabilities. Assuming no liquidation expenses, what safe payment could be made?

• A)$5,000 split between Branden & Caylin by a ratio of 5/8 and 3/8, respectively.
• B)$5,000 to Branden only
• C)$1,000 to Allen, $2,500 to Branden, and $1,500 to Caylin
• D)$18,000 to Branden only

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Definitions:

Ethnic Group

A community or population made up of people who share a common cultural background or descent.

Predictable Behavior

Actions or responses that are consistent and can be anticipated based on previous patterns or known characteristics.

Selective Breeding

The human practice of breeding plants or animals for specific genetic traits, aiming to develop or enhance particular phenotypes.

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