In 2013, A

question 60

Multiple Choice

In 2013, A. Mernick and L. Gold entered into a partnership to develop real estate projects. Due to their respective roles in the business, the partnership agreement specifies a two- phase profit split. The first $90 000 will be split in a ratio of 1:2 to Mernick and Gold, respectively. All profits over $90 000 will be split equally. During 2013, the following transactions took place:
Total partnership profit was $110 000. Mernick took withdrawals of $32 000. Gold took withdrawals of $50 000.
How much profit was credited to Gold's capital account?

• A)$70 000
• B)$60 000
• C)$72 000
• D)$68 000

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Definitions:

Big Five

Refers to the five broad personality traits described by psychology: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Openness To Experience

A personality trait characterized by a willingness to try new things, engage in imaginative activities, and embrace novel ideas.

Personality Traits

Enduring characteristics or behaviors that define an individual's patterns of thought, emotion, and behavior.

Neuroticism

A personality trait characterized by long-term tendency to be in a negative or anxious emotional state; it is not a disorder but one of the five major traits used to describe human personality.