A Local Partnership Was in the Process of Liquidating and Reported

question 54

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.

---

Definitions:

Presbyopia

An age-related condition in which the eye's lens loses its ability to focus, making it difficult to see objects up close.

Iritis

Inflammation of the iris, the colored part of the eye, which can cause pain, light sensitivity, and vision problems.

Color Blindness

A deficiency in the way someone sees color, making it difficult to distinguish between certain colors or shades.

Contrast Sensitivity

The ability to distinguish between variations in light and dark, a critical aspect of vision that affects how well one can perceive fine distinctions in brightness or textures.