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Carney, Pierce, Menton, and Hoehn are partners who share profits and losses on a 4 : 3 : 2 : 1 basis, respectively. They are

Carney, Pierce, Menton, and Hoehn are partners who share profits and losses on a 4:3:2:1 basis, respectively. They are beginning to liquidate the business. At the start of this process, capital balances are
Carney, capital $ 67,000
Pierce, capital 29,100
Menton, capital 50,000
Hoehn, capital 22,100
Which of the following statements is true?
Multiple Choice
Carney will be the last partner to receive any available cash.
The first available $5,800 will go to Menton.
Carney will collect a portion of any available cash before Hoehn receives money.
The first available $4,100 will go to Hoehn.

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