The Computation of a Safe Installment Payment for the XYZ

question 50

Multiple Choice

The computation of a safe installment payment for the XYZ partnership resulted in only partner Z receiving cash.Which of the following statements is correct?
I.Partner Z lent the partnership cash,and the partnership had to pay back the loan to Z before distributing cash to X and Y.
II.After assuming all noncash assets were potentially worthless and that assumed capital deficits created in X's and Y's capital balances were losses to be allocated to Z;Z's capital balance was the only capital balance left with a credit.

• A)I only
• B)II only
• C)Either I or II
• D)Neither I nor II

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Definitions:

STDEV

A statistical function that calculates the standard deviation of a set of numbers, indicating how much the numbers deviate from the average.

VAR

Stands for Value-Added Reseller; a company that adds features or services to an existing product, then resells it (usually to end-users) as an integrated product or complete "turn-key" solution.

MAX

In computing and mathematics, MAX refers to a function or operation that determines the maximum value from a set of numbers or data.

Sort Key

A field or set of fields used to determine the order in which data is sorted in a database or data structure.