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On January 2 of the current year, Calloway and Taylor contribute cash equally to form the CT Partnership. Calloway and Taylor share profits and losses in a ratio of 75% and 25%, respectively. The partnership's ordinary income for the year was $40,000. Calloway received a distribution of $5,000 during the year. What is Calloway's share of taxable income for the year?
Odd Pricing
A pricing strategy that sets prices at odd numbers just below round numbers to make them appear smaller and more appealing to buyers.
Cost-Based Pricing
Formulas that calculate total costs per unit and then add markups to cover overhead costs and generate profits.
Personal Selling
A direct form of marketing that involves a salesperson presenting the benefits of a product directly to a customer in order to make a sale.
Price Fixing
An illegal practice where businesses agree on the prices of their products or services, instead of letting market forces determine them.
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