A Local Partnership Was in the Process of Liquidating and Reported

question 25

Multiple Choice

A local partnership was in the process of liquidating and reported the following capital balances: $\begin{array}{ll}\text {Justice, capital (40\% share of all profits and losses) }&\$23,000 \\\text {Zobart, capital ( \( 35 \%) \) }&22,000 \\\text { Douglass, capital ( } 25 \%) &(14,000) \\\end{array}$
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 this money should Zobart receive?

• A)$15,467.
• B)$14,467.
• C)$17,333.
• D)$15,633.
• E)$15,867.

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Definitions:

Middle Adulthood

A stage of adulthood typically considered to occur from around age 40 to 65, characterized by stability, maturity, and generativity.

Body Transcendence

The psychological process of transcending physical limitations or body concerns, often associated with aging or spiritual growth.

Body Preoccupation

An excessive focus on the body and its appearance, which can impact an individual's self-esteem and behaviours.

Late Adulthood

Late adulthood is a life stage that describes individuals typically aged 65 years and older, characterized by both physiological and cognitive changes, and the consideration of issues such as retirement and coping with physical decline and loss.