Cox, North, and Lee Form a Partnership

question 34

Multiple Choice

Cox, North, and Lee form a partnership. Cox contributes $180,000, North contributes $150,000, and Lee contributes $270,000. Their partnership agreement calls for the income or loss division to be based on the ratio of capital invested
- If the partnership reports income of $150,000 for its first year, what amount of income is credited to Cox's capital account?

• A) $36,000.
• B) $45,000.
• C) $64,286.
• D) $60,000.
• E) $50,000.

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Definitions:

Innate Need

An internal requirement of essential significance for an organism's health and development, often presumed to be inborn.

Rogerian Psychotherapy

A therapeutic approach based on the principles of Carl Rogers, emphasizing empathy, unconditional positive regard, and the client's self-worth.

Ideal Selves

The concept of an idealized version of oneself, representing the attributes, abilities, and traits that one aspires to possess.

Conditions of Worth

Concept in humanistic psychology stating that individuals' self-esteem is conditioned by the positive regard of others, often leading to modifying behavior to gain approval.