Marshall Retires from the Partnership of Marshall,Mark,and Dennis

question 141

Multiple Choice

Marshall retires from the partnership of Marshall,Mark,and Dennis.Marshall had a capital balance of $25,000.If Marshall received $25,000 as final settlement,how will this transaction affect the balance sheet items?

• A) Cash will increase.
• B) Liabilities will increase.
• C) Liabilities will decrease.
• D) Equity will decrease.

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Definitions:

SST

In statistics, SST stands for Total Sum of Squares, which is a measure of the total variance in a dataset, representing the sum of squared differences from the mean.

One-Way ANOVA

A statistical test that assesses whether there are any statistically significant differences between the means of three or more independent (unrelated) groups.

F Statistic

A ratio used in the analysis of variance (ANOVA) to determine whether the means of several groups are equal.

ANOVA Table

A table used in analysis of variance that shows the sources of variability in the data and helps in determining whether there are significant differences between group means.