Partners David and Goliath Have Decided to Liquidate Their Business

question 22

Multiple Choice

Partners David and Goliath have decided to liquidate their business.The following information is available:
David and Goliath share profits and losses in a 3:1 ratio,respectively.During the first month of liquidation,half the inventory is sold for $70,000,and $50,000 of the accounts payable are paid.During the second month,the rest of the inventory is sold for $55,000,and the remaining accounts payable are paid.Cash is distributed at the end of each month,and the liquidation is completed at the end of the second month.
-Refer to the information provided above.Using a safe payment schedule,how much cash will be distributed to David at the end of the first month?

• A)$22,500
• B)$42,500
• C)$75,000
• D)$117,500

Identify the legal considerations and consequences of mixed or confused property ownership.

Understand the implications and applications of the Uniform Transfers to Minors Act.

Analyze the legal consequences of actions taken with bailed items, including losses and damages.

Examine the legal principles governing conditional gifts and their completion or revocation.

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Definitions:

Divisional Structure

An organizational layout where operations are divided into semi-autonomous units or divisions, each focusing on a specific aspect of the business.

Functional Structure

An organizational design that groups employees based on their specialization or the specific functions they perform within the company.

Cross-functional Communication

The exchange of information and collaboration between different departments or functional areas within an organization.

Multidivisional Structure

An organizational arrangement where a company is divided into semi-autonomous divisions, each focusing on a particular operational area or product line.