Mark and Bonnie Are Partners

question 66

Multiple Choice

Mark and Bonnie are partners.Mark contributed $30,000 of capital to the partnership and Bonnie contributed $15,000.Mark does 70 percent of the partnership's work,while Bonnie does 30 percent.They agree that Mark will assume 60 percent of partnership losses and Bonnie 40 percent.They have not decided how to share profits.The partnership earns a profit of $90,000.What is Bonnie's share of the profits?

• A)$45,000
• B)$30,000
• C)$27,000
• D)$36,000

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Definitions:

Securities Act

Refers to laws that regulate the issuance and trading of securities, such as stocks and bonds, to protect investors from fraud and ensure transparency in the financial markets.

Due Diligence Defense

A legal defense used in securities law where the accused party argues they conducted a comprehensive and reasonable investigation prior to an alleged wrongdoing.

Private Placement Exemption

A regulatory exception that allows companies to sell securities directly to a limited number of qualified investors without the need for a public offer.

SEC

The Securities and Exchange Commission, a U.S. federal agency responsible for enforcing federal securities laws and regulating the securities industry.