Singer and McMann Are Partners in a Business

question 63

Multiple Choice

Singer and McMann are partners in a business. Singer's original capital was $40,000 and McMann's was $60,000. They agree to salaries of $12,000 and $18,000 for Singer and McMann, respectively, and 10% interest on original capital. If they agree to share the remaining profits and losses on a 3:2 ratio, what will McMann's share of the income be if the income for the year is $30,000?

• A) $20,000
• B) $18,000
• C) $18,600
• D) $17,400

Understand the critical role of human capital in organizational success and strategic organizational behavior.

Recognize the contingency approach in management and its importance in organizational behavior.

Describe the interdisciplinary nature of organizational behavior and its connections to behavioral sciences.

Identify intangible vs. tangible resources in an organization and their significance.

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Definitions:

Negative Stereotype

A harmful or unfavorable generalization about a group of people that lacks individual recognition and is often based on misconceptions.

Performance Appraisals

The formal evaluation process of an employee's job performance, usually involving feedback and discussions about achievements and areas for improvement.

Employment Interview

An Employment Interview is a formal, face-to-face or virtual meeting where an employer evaluates a potential employee's qualifications, skills, and suitability for a position.

Validity

The degree to which a test, measure, or research conclusion accurately represents what it is designed to assess.