Use the Following Account Balance Information for Grinotfin Partnership with Income

question 185

Multiple Choice

Use the following account balance information for Grinotfin Partnership with income ratios of 2:4:4 for Grigsby, Nott, and Fine, respectively. Assume that, as part of liquidation proceedings, Grinotfin sells its noncash assets for $120,000. As a result, one of the partners has a capital deficiency which that partner decides not to repay. The amount of cash that would ultimately be distributed to Fine would be:

• A) $104,000.
• B) $76,000.
• C) $48,000.
• D) $68,000.

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Definitions:

Social Norm Deviance

Behavior that violates societal norms or expectations, which can lead to social sanctions or increased attention from others.

Abnormality

A deviation from the normal or expected form, structure, or behavior, often indicating a functional or structural issue.

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Traditional medical concepts that refer to bodily liquids essential for maintaining life functions, such as blood, phlegm, black bile, and yellow bile in ancient medicine.

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An ancient Greek physician often referred to as the "Father of Medicine," credited with advancing the systematic study of clinical medicine.