Which of the Following Is True of Profits and Losses

question 68

Multiple Choice

Which of the following is true of profits and losses in a general partnership?

• A) The proportion of profit shared is equal to the general partner's initial investment.
• B) Losses are shared equally by all general partners.
• C) The general partner who proposed the idea of the business gets most profit.
• D) The proportion of investment governs only the proportion of loss shared and not profit obtained.

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Definitions:

Rock Salt

A sedimentary rock composed primarily of sodium chloride, forming from the evaporation of seawater and used in various applications including road de-icing and as a seasoning.

Dried Up Lake Bed

The base of a former lake that has lost its water content and become dry, often leaving behind salt flats, minerals, or arid land.

Clastic Sediments

Sediments made up of fragments, or clasts, of pre-existing minerals and rock that have been transported and deposited by wind, water, or ice.

Amount Of Sorting

The degree to which sediment particles are of uniform size, which influences the texture and porosity of sedimentary rocks.