Mary Cox Entered into a Partnership and Transferred Assets and Liabilities

question 142

Multiple Choice

Mary Cox entered into a partnership and transferred assets and liabilities from her prior business over to the partnership comprised of the following: $$\begin{array} { | l | l | r | } \hline \text { Cash } & & \$ 10,000 \\\hline \text { Notes Payable } & & \$ 2,000 \\\hline \text { Inventory } & \text { Original cost } & \$ 12,000 \\\hline & \text { Current market value } & \$ 8,000 \\\hline\end{array}$$ On the partnership books,the assets and liabilities will be recorded at a combined net value of:

• A) $22,000.
• B) $20,000.
• C) $32,000.
• D) $16,000.

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Definitions:

Negative Alterations

In the context of trauma and stressor-related disorders, this term refers to changes in mood and cognition that are negatively impacted by traumatic events.

Panic Control Treatment (PCT)

A cognitive-behavioral therapy approach specifically designed to reduce panic attacks and the symptoms associated with panic disorder.

Exposure-Based Treatment

A therapeutic process that involves confronting fears directly and under controlled conditions to reduce anxiety and avoidance behaviors.

Interoceptive Exposure

A therapeutic technique aimed at reducing fear of internal sensations by systematically experiencing them in a safe and controlled manner.