Luisa, Lois, and Lucy Operate a Boutique Named Mariabelle's Dreams

question 84

Multiple Choice

Luisa, Lois, and Lucy operate a boutique named Mariabelle's Dreams. Based on advice from Luisa's sister, an accountant, the three form a partnership. Luisa owns 40% and Lois and Lucy each own 30%. For the year, Mariabelle's Dreams reports the following: What amount will Mariabelle's Dreams report to Luisa as her ordinary income from the partnership?

• A) $54,000
• B) $54,400
• C) $54,800
• D) $55,600
• E) $ 56,000

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Definitions:

Division

The process of ascertaining how many times one number is contained within another.

Addition

The mathematical operation of combining two or more numbers to calculate their total sum.

Multiplication

A mathematical operation that combines two numbers to get their product.

Addition

The mathematical process of combining two or more numbers to get their total.