A Local Partnership Was in the Process of Liquidating and Reported

question 43

Multiple Choice

A local partnership was in the process of liquidating and reported the following Capital account balances: Douglass indicated that the $14,000 deficit would be covered by a forthcoming contribution. However, the two remaining partners asked to receive the $31,000 that was then in the cash account.How much of the $31,000 in the cash account should Justice receive?

• A)$15,467.
• B)$15,533.
• C)$17,333.
• D)$16,533.
• E)$15,867.

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Definitions:

Cognitive Dissonance

The mental discomfort experienced by an individual who holds two or more contradictory beliefs, ideas, or values at the same time.

Postpurchase Psychological Tension

The anxiety or regret a consumer may feel after making a purchase decision, often arising from doubts about the choice made.

Highly Attractive Alternatives

Options that are significantly more appealing to consumers or decision-makers compared to the current choice or status quo.

Evaluative Criteria

The standards and specifications that consumers use to compare and judge the merits of different products, services, or brands when making purchasing decisions.