Bill, Page, Larry, and Scott Have Decided to Terminate Their

question 47

Multiple Choice

Bill, Page, Larry, and Scott have decided to terminate their partnership. The partnership's balance sheet at the time they decide to wind up is as follows:
During the winding up of the partnership, the other assets are sold for $150,000 and the accounts payable are paid. Page and Larry are personally solvent, but Bill and Scott are personally insolvent. The partners share profits and losses in the ratio of 4:2:1:3.

-Based on the preceding information,what amount will be distributed to Page and Larry upon liquidation of the partnership?

• A) Option A
• B) Option B
• C) Option C
• D) Option D

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Definitions:

Avoidant

Characterized by a tendency to evade or escape from stressful situations, often used in the context of personality or attachment styles.

Frustration-Aggression Model

A psychological theory suggesting that frustration leads to aggressive behavior because it induces an aggressive drive.

Long-Standing Feud

An ongoing conflict or disagreement that has persisted over a long period of time.

Stressors

Factors or experiences that cause stress in an individual.