The Partnership of Peter, Paul, and Mary Share Profits and Losses

question 22

Multiple Choice

The partnership of Peter, Paul, and Mary share profits and losses in the ratio of 4:4:2, respectively. The partners voted to dissolve the partnership when its assets, liabilities, and capital were as follows: The partnership will be liquidated over a prolonged period of time. As cash is available, it will be distributed to the partners. The first sale of noncash assets having a book value of $600,000 realized $475,000. How much cash should be distributed to each partner after this sale?

• A) Peter, $90,000; Paul, $140,000; Mary, $295,000
• B) Peter, $210,000; Paul, $290,000; Mary, $145,000
• C) Peter, $290,000; Paul, $210,000; Mary, $105,000
• D) Peter, $150,000; Paul, $175,000; Mary, $200,000

Recognize the effects of self-compassion and self-care on mental wellbeing.

Learn about narcissism and its characteristics.

Understand the mechanisms of reflected appraisal and how it influences self-concept.

Grasp the concepts of self-serving bias and downward comparisons and their effects on self-esteem.

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Definitions:

Amplitude

The maximum extent of a vibration or oscillation, measured from the position of equilibrium.

Hertz

In the International System of Units (SI), the measure of frequency that is equivalent to one cycle every second.

Genetic Predisposition

An inherited genetic pattern that increases the likelihood of developing certain traits, conditions, or diseases.

Nutritive Substances

Compounds that provide nourishment essential for the growth and maintenance of life, typically including proteins, carbohydrates, fats, vitamins, and minerals.