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

question 20

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 the available cash is distributed immediately,except for a $25,000 contingency fund that is withheld pending complete liquidation of the partnership.How much cash should be paid to each of the partners?

• A)Mick,$87,500; Keith,$52,500; Charlie,$35,000
• B)Mick 12,500; Keith ,7,500; Charlie,10,000
• C)Mick - 0 -; Keith,25,000; Charlie,- 0 -
• D)Mick - 0 -; Keith,15,000; Charlie,10,000

---

Definitions:

Sociometer Model

A psychological theory suggesting that self-esteem is a measure of how well individuals perceive they are viewed by others in their social group.

Self-esteem

The perception and evaluation of one's own worth or value.

Neurological Reactions

The responses and activities within the nervous system to various stimuli, affecting behavior, emotions, and cognition.

Exclusion

The action of denying someone access to a group, resources, or participation, often leading to feelings of isolation or marginalization.