The Partnership of Mick, Keith, and Charlie Has Been Dissolved

question 26

Multiple Choice

The partnership of Mick, Keith, and Charlie has been dissolved and is in the process of liquidation. On July 1, 2017, just before the second cash distribution, the assets and equities of the partnership along with residual profit sharing ratios were as follows: Assume that the available cash is distributed immediately, except for a $25,000 contingency fund that is withheld pending complete liquidation of the partnership. How much cash should be paid to each of the partners?

• A) Mick, $87,500; Keith, $52,500; Charlie, $35,000
• B) Mick 12,500; Keith , 7,500; Charlie, 10,000
• C) Mick - 0 -; Keith, 25,000; Charlie, - 0 -
• D) Mick - 0 -; Keith, 15,000; Charlie, 10,000

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Definitions:

Levels

Different positions or stages in a hierarchical process, system, or organization; in statistics, it refers to the different conditions or values that an independent variable can take.

Text Messages

Brief electronic messages sent over a cell phone network, primarily consisting of text but sometimes including images or videos.

Treatments

In the context of experimental design, the different conditions or interventions that participants are exposed to in order to observe potential effects.

Response Variable

In statistics, the variable that measures an outcome or result of a study, which the researcher aims to predict or explain.