The Abrams,Bartle,and Creighton Partnership Began the Process of Liquidation with the Following

question 31

Multiple Choice

The Abrams,Bartle,and Creighton partnership began the process of liquidation with the following balance sheet:
Abrams,Bartle,and Creighton share profits and losses in a ratio of 3:2:5.Liquidation expenses are expected to be $12,000.
After the liquidation expenses of $12,000 had been paid and the noncash assets sold,Creighton had a deficit of $8,000.For what amount were the noncash assets sold?

• A)$170,000.
• B)$264,000.
• C)$158,000.
• D)$146,000.
• E)$185,000.

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Definitions:

Antagonistic Pleiotropy

A hypothesis suggesting that a single gene can affect multiple traits in a way that is beneficial in some aspects but detrimental in others.

Hygiene Hypothesis

Suggests that a lack of early childhood exposure to infectious agents, symbiotic microorganisms, and parasites increases susceptibility to allergic diseases by suppressing the natural development of the immune system.

Alleles

Different versions of a gene that determine distinct traits that can be passed on to offspring.

Evolutionary History

The chronological sequence of biological events and processes that have led to the diversity of life and the traits observed in organisms today.