Ben and Jerry,two Sole Traders Form a Partnership by Combining

question 53

Multiple Choice

Ben and Jerry,two sole traders form a partnership by combining their net assets.
Jerry contributes:
Cost value Fair value
Cash $20 000Accounts receivable $14 000 $12 500
Ben contributes:
Plant $30 000 $25 000
Accumulated depreciation $7000
Bank overdraft $6000
The amount credited to Jerry's capital account is:

• A)$34 000.
• B)$32 500.
• C)$26 500.
• D)$(12 500).

Understand socialization as a dual process of becoming part of a larger community while developing individuality.

Recognize personality development as influenced by both innate propensities and social interactions.

Acknowledge the influence of parents, teachers, and significant others in the social and personality development process.

Understand the role of socialization in forming individual values, standards, and knowledge of one's culture.

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Definitions:

Cash Flow On Total Assets

A performance metric that shows how efficiently a company can generate cash flow from its total asset base.