A Local Partnership Was in the Process of Liquidating and Reported

question 18

Multiple Choice

A local partnership was in the process of liquidating and reported the following capital balances: Douglass indicated that the $14,000 deficit would be covered by a forthcoming contribution. However, the two remaining partners asked to receive the $31,000 that was then in the cash account.
How much of this money should Justice receive?

• A) $15,467.
• B) $15,533.
• C) $17,333.
• D) $16,533.
• E) $15,867.

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Definitions:

Equality of Opportunity

The principle that all individuals should have the same chances to advance socially and economically, without discrimination or bias.

Inequality

Refers to the unequal distribution of resources, rights, and opportunities among individuals or groups within societies.

John Rawls

A 20th-century American philosopher known for his work in political philosophy, especially in his theory of justice as fairness.

Principle of Justice

A fundamental ethical guideline that ensures fair and equitable treatment for all individuals and the distribution of rewards and burdens in society.