A Local Partnership Was Considering the Possibility of Liquidation

question 69

Multiple Choice

A local partnership was considering the possibility of liquidation. Capital account balances at that time were as follows. Profits and losses were divided on a 4:2:2:2 basis, respectively. At that time, the partnership held noncash assets reported at $360,000 and liabilities of $120,000. There was no cash on hand at the time.If the assets could be sold for $228,000 and there are no liquidation expenses, what is the amount that Laurel would receive from the liquidation?

• A)$36,000.
• B)$0.
• C)$2,500.
• D)$38,250.
• E)$67,250.

Recognize the correct pronoun choice in professional and formal writing contexts.

Apply knowledge of pronoun-antecedent agreement to improve sentence clarity.

Enhance grammar and writing skills by correctly using pronouns in various sentence constructions.

Demonstrate knowledge of inclusive language by using gender-neutral pronouns where appropriate.

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Definitions:

Phonemes

The smallest unit of sound in a language that can distinguish one word from another.

Human Voice

The sound produced by a human being using vocal folds for talking, singing, laughing, crying, screaming, etc.

Infant Hearing

The ability of infants to perceive and process sounds, which begins before birth and is crucial for language development and social interactions.

Mother's Voice

The sound produced by a mother that is uniquely recognizable by her offspring, often providing comfort and security.