The Partnership of Mick,Keith,and Charlie Has Been Dissolved and Is

question 11

Multiple Choice

The partnership of Mick,Keith,and Charlie has been dissolved and is in the process of liquidation.On July 1,2017,just before the second cash distribution,the assets and equities of the partnership along with residual profit sharing ratios were as follows: Assume that Mick takes equipment with a fair value of $40,000 and a book value of $50,000 in partial satisfaction of his equity in the partnership.If all the $200,000 cash is then distributed,the partners should receive:

• A)Mick,$100,000; Keith,$60,000; Charlie,$40,000
• B)Mick,25,000; Keith,15,000; Charlie,10,000
• C)Mick,- 0; Keith,45,000; Charlie,5,000
• D)- 0; Keith,50,000; Charlie,- 0

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Definitions:

Sample Size

Refers to the number of observations or units included in a study, affecting the study's power and generalizability.

Target Population

The specific group of individuals to whom a particular research study, policy, or intervention is directed.

Effect Size

Effect size is a quantitative measure of the magnitude of the difference between groups or the strength of a relationship between variables in a statistical analysis.

Holland's Theory

A theory of career and vocational choice based upon personality types, suggesting that people with certain personality traits tend to prefer certain professions.