A Local Partnership Was Considering the Possibility of Liquidation Since

question 11

Multiple Choice

A local partnership was considering the possibility of liquidation since one of the partners (Ding) was personally insolvent. Capital balances at that time were as follows. Profits and losses were divided on a 4:2:2:2 basis, respectively. Creditors of partner Ding filed a $25,000 claim against the partnership's assets. At that time, the partnership held noncash assets reported at $360,000 and liabilities of $120,000. There was no cash on hand at the time.
If the assets could be sold, for $228,000 what is the minimum amount that Tillman's creditors would have received?

• A) $36,000.
• B) $0.
• C) $2,500.
• D) $38,250.
• E) $67,250.

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Definitions:

Existential Psychotherapies

A group of psychotherapeutic approaches that focus on the individual's experience of existence, emphasizing personal responsibility, freedom, and the search for meaning.

Outcome Research

The study of the results or outcomes of specific health care practices and interventions.

Controlled Research

Studies designed with control groups and other measures to test the efficacy of interventions in a systematic and scientific manner.

Meta-analytic Studies

Research methodologies that statistically combine results from multiple studies to derive conclusions about a topic or effect size.