A Local Partnership Has Assets of Cash of $5,000 and a Building

question 60

Multiple Choice

A local partnership has assets of cash of $5,000 and a building worth $80,000.All liabilities have been paid and the partners are all insolvent.The partners capital accounts are as follows Harry $40,000,Landers $30,000 and Waters 15,000.The partners share profits and losses 4:4:2.If the building is sold for $50,000,how much cash will Harry receive in the final settlement?

• A)$5,000.
• B)$9,000.
• C)$18,000.
• D)$28,000.
• E)$55,000.

Recognize the importance and application of imaging and heuristics in cognitive processes.

Identify different types of intelligence and their characteristics.

Understand the principles and applications of language in cognitive psychology.

Recognize the importance of contextual intelligence in real-world applications.

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Definitions:

Marginal Revenue Function

A calculation that shows how much extra revenue a firm will receive from selling one more unit of a product or service.

Demand

Describes the amount of a product or service that buyers are ready and can afford to buy at different prices over a specific time frame.

Book

A written or printed work consisting of pages glued or sewn together along one side and bound in covers.

Profit-Maximizing

The process or strategy employed by a firm to adjust its production and prices to achieve the highest possible profit.