Bill,Page,Larry,and Scott Have Decided to Terminate Their Partnership

question 33

Multiple Choice

Bill,Page,Larry,and Scott have decided to terminate their partnership.The partnership's balance sheet at the time they decide to wind up is as follows:
During the winding up of the partnership,the other assets are sold for $150,000 and the accounts payable are paid.Page and Larry are personally solvent,but Bill and Scott are personally insolvent.The partners share profits and losses in the ratio of 3:2:1:4.

-Based on the preceding information,what amounts will be distributed to Page and Larry upon liquidation of the partnership?

• A)Option A
• B)Option B
• C)Option C
• D)Option D

Recognize the significance of partial responses and the appropriate teaching responses to encourage further learning.

Identify the process and importance of task analysis in educational settings.

Understand the purpose and application of formative assessments in guiding instructional decisions.

Comprehend the concept and utility of independent practice in consolidating learning.

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Definitions:

Qualified Prospects

Potential customers who have been researched and evaluated and are deemed to have a high likelihood of becoming buyers.

New-business Salespeople

Sales professionals specialized in identifying, engaging, and converting prospects into new customers, vital for business growth and market expansion.

The Approach Step

A phase in a process or strategy that involves moving towards a specific goal or objective through planned actions.

Rapport

A positive relationship characterized by mutual respect, trust, and understanding between individuals or groups.