After discontinuing the ordinary business operations and closing the accounts on May 7, the ledger of the partnership of Anna, Brian, and Cole indicated the following:​ The partners share net income and losses in the ratio of 3:2:1. Between May 7 and May 30, the noncash assets were sold for $150,000, the liabilities were paid, and the remaining cash was distributed to the partners.​
(a)Prepare a statement of partnership liquidation.
(b)Assume the same facts as in
(a), except that the noncash assets were sold for $45,000 and any partner with a capital deficiency pays the amount of the deficiency to the partnership. Prepare a statement of partnership liquidation.

Roofing Contractor LLC buys roof tiles from Shingles Inc. The parties agree that the tiles will be shipped "F.O.B. Shingles" to Roofing via Tristate Shipping Corporation. The goods are lost in transit. The loss is suffered by

A) Tristate.
B) Shingles.
C) Roofing.
D) consumers by an increase in the prices of tiles and shipping.

Bob took a check written by Jack to Jack's bank to be certified. The bank stamped "Certified" on it and gave it back to Bob. What consequence?

A) Bob can only demand the money from Jack.
B) Bob can only demand the money from the bank.
C) The bank would have to pay if Jack doesn't.
D) Bob would have to pay if the bank doesn't.

National governments sometimes take deliberate action to devalue their currencies as a way to increase exports and stimulate foreign investment.

A capital expenditures budget is prepared before the operating budgets.

Linear programming is a complex mathematical procedure commonly used for project analysis in engineering and business applications.