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Matching (1. )The Schedule of Liquidation

question 38

Essay

Matching
(1. )The schedule of liquidation
(2. )Deficit capital balances
(3. )Marshaling of assets
(4. )Predistribution plan
(A. )A schedule of liquidation should be produced periodically by the accountant to disclose losses and gains that have been incurred,remaining assets and liabilities,and current capital balances.
(B )At the start of a liquidation,this document provides guidance for all payments made to the partners throughout the liquidation
(C. )One or more partners may have a negative capital balance often as a result of losses incurred in disposing of assets.
(D. )Provides an equitable system for distributing assets during liquidation.


Definitions:

Maintenance/Repair/Operating Supply

Items and materials necessary for the upkeep and repair of operations, equipment, and facilities in an organization.

Safety Stock Inventory

A quantity of inventory kept on hand as a buffer against fluctuations in demand or supply.

Inventory Model

An analytical approach or mathematical formula used to manage and control stock levels, optimizing inventory costs and meeting demand.

Ordering Cost

The cost of the ordering process.

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