Wheadon, Davis, and Singer Formed a Partnership with Wheadon Contributing

question 120

Multiple Choice

Wheadon, Davis, and Singer formed a partnership with Wheadon contributing $60,000, Davis contributing $50,000 and Singer contributing $40,000. Their partnership agreement called for the income (loss) division to be based on the ratio of capital investments.
-If the partnership had income of $75,000 for its first year of operation, what amount of income (rounded to the nearest thousand) would be credited to Singer's capital account?

• A) $75,000.
• B) $40,000.
• C) $25,000.
• D) $20,000.
• E) $30,000.

---

Definitions:

Internal Marketing

Refers to a company's efforts to train, motivate, and equip its employees to serve its customers better.

Product Management

The organizational function responsible for the strategy, roadmap, and feature definition of a product or product line throughout its lifecycle.

Inseparability

A characteristic of services indicating that they are produced and consumed simultaneously, and cannot be separated from their providers.

Intangibility

A characteristic of services that means they cannot be seen, touched, tasted, or easily quantified before they are purchased.