The Owner and a Partner in a Small Business Share

question 631

Multiple Choice

The owner and a partner in a small business share profits in the ratio 2:1. For a month in which the business realizes a profit of $15,600. what is the owner's share of the profit?

• A) $5,200
• B) $7,800
• C) $10,400
• D) None of These

Comprehend the importance of transparency in corporate practices for trust-building with customers.

Comprehend the measures of customer service success, including fill rates and on-time delivery.

Understand the concept of ease of doing business and its impact on customer satisfaction.

Grasp the essentials of customer relationship management (CRM) and its strategic importance.

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Definitions:

Consolidated Income Statement

A income statement that combines the financial performance of all subsidiaries with the parent company, eliminating intercompany transactions.

Income Tax Rate

The proportion of income that is taken from a person or business in the form of taxes.

Consolidated Retained Earnings

The portion of earnings not distributed as dividends but retained by the parent company and its subsidiaries for reinvestment.

Intercompany Sales

Transactions of goods and services between subsidiaries within the same parent company, requiring elimination during consolidation for accurate financial statements.