The Capital Balances,prior to the Liquidation of the XYZ Partnership,were

question 36

Multiple Choice

The capital balances,prior to the liquidation of the XYZ partnership,were as follows: X,Y,and Z share profits and losses in the ratio of 5:3:2.As a result of a loan,the partnership owes Y $80,000.Using the information above,which partner has the highest Loss Absorption Power (LAP) prior to liquidation?

• A) X
• B) Y
• C) Z
• D) Both X and Y

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Definitions:

Human Resource Management

The strategic approach to the effective management of people in an organization, which helps businesses gain a competitive advantage. It's designed to maximize employee performance in service of the employer's strategic objectives.

Critical Industrial Relations

The study and practice of managing and improving relationships between employers and employees, particularly in contexts where conflicts or disputes might arise.

Pragmatic, Business-Like Approach

A practical and realistic method of dealing with business situations, focusing on results and efficiency instead of theory or ideals.

Labor Unions

Organizations that represent the collective interests of workers, negotiating wages, benefits, and working conditions with employers.