When Peter Gave Notice to Paul and Mary of Dissolution

question 70

Multiple Choice

When Peter gave notice to Paul and Mary of dissolution of their entertainment partnership business,the capital accounts were as follows: The partnership assets were liquidated to $30,000.Outstanding liabilities to third parties totalled $39,000.Distributed to Peter,Paul,and Mary,each will respectively receive

• A)$20,000,$30,000,$50,000.
• B)$27,000,$47,000,$17,000.
• C)$27,000,$45,000,$18,000.
• D)$30,000,$50,000,$20,000.
• E)$28,500,$41,250,$16,000.

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Definitions:

Projective

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Minnesota Multiphasic Personality Inventory

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