In the Process of Liquidation,a Partnership Firm Sells Its Non-Cash

question 43

Multiple Choice

In the process of liquidation,a partnership firm sells its non-cash assets of a book value of $46,000,for $76,000.Which of the following will be included in the entry to record the sale of assets at liquidation?

• A)Gain on disposal will be debited by $30,000.
• B)Gain on disposal will be credited by $76,000.
• C)Gain on disposal will be debited by $76,000.
• D)Gain on disposal will be credited by $30,000.

Understand the principles and applications of affirmative action plans in recruitment.

Design effective recruitment activities based on central organizational issues.

Distinguish between full-time and contingency employment preferences and reasons.

Understand the basic types or clusters of temperament identified by Alexander Chess and Stella Thomas.

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Definitions:

Average Profit

The mean financial gain computed by dividing the total profit by the number of units sold or transactions, providing insight into overall profitability.

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution without violating any constraints.

T Distribution

A probability distribution that is used to estimate population parameters when the sample size is small and the population variance is unknown.

T-Test Statistic

A statistical measure used to assess the significance of the difference between the mean values of two groups.