Fillmore,Willis,and Polk Form a Partnership

question 44

Multiple Choice

Fillmore,Willis,and Polk form a partnership.Fillmore's capital contribution to the firm is $10,000.Willis and Polk contribute $5,000 each.The parties make no express agreement concerning how profits are to be divided,but they agree to share losses as follows: Fillmore,40%,Willis and Polk,30% each.During the partnership's first year,the business has a profit of $30,000.What is Fillmore's share of the profit?

• A)$7,500
• B)$9,000
• C)$10,000
• D)$12,000

Appreciate the scientific approach to studying social psychology and its emphasis on empirical evidence.

Describe cognitive misers and the implications for information processing and decision making.

Identify the phenomenon of influence through mimicry and its implications for social behavior.

Understand the principles of attribution theory and its application in social cognition.

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Definitions:

Activity-Based Costing

A costing method that assigns costs to products or services based on the activities they require, aiming to provide more accurate information on product costing and profitability.

Equipment Depreciation

The process of allocating the cost of physical assets used in a business over their expected useful lives specifically for equipment.

Resource Consumption

The amount of raw materials, energy, or other resources used by an organization in its operational activities.

Time-Driven

A costing method or approach that allocates costs based on the actual time required to perform a process or activity.