Bill,Page,Larry,and Scott Have Decided to Terminate Their Partnership

question 45

Multiple Choice

Bill,Page,Larry,and Scott have decided to terminate their partnership.The partnership's balance sheet at the time they decide to wind up is as follows:
During the winding up of the partnership,the other assets are sold for $150,000 and the accounts payable are paid.Page and Larry are personally solvent,but Bill and Scott are personally insolvent.The partners share profits and losses in the ratio of 4:2:1:3.
-Based on the preceding information,what amount will be paid out to Scott upon liquidation of the partnership?

• A)$0
• B)$2,500
• C)$25,000
• D)$65,000

---

Definitions:

Zone Of Proximal Development

is a concept in educational psychology referring to the difference between what a learner can do without help and what they can achieve with guidance and encouragement from a skilled partner.

Fly-fishing Outfit

Equipment and clothing specifically designed for the sport of catching fish with the use of artificial flies.

Preoperational Thinking

A stage in Piaget's theory of cognitive development where children from 2 to 7 years old engage in symbolic play but lack operations (logical rules).

Zone Of Proximal Development

The difference between what a learner can do without help and what they can achieve with guidance and encouragement from a skilled partner.