Which of the Following Statements Is Correct

question 14

Multiple Choice

Which of the following statements is correct?

• A)If partners consider their cash withdrawals to be compensation for the work they do for the partnership, the amounts of the withdrawals should be charged to Salaries Expense.
• B)If there is no specific agreement on the division of partnership profits and losses, they are divided equally among the partners.
• C)If a salary is allowed to one partner, other partners also must receive a salary allowance.
• D)None of the above statements is correct.

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Definitions:

Identical Twins

Twins who originate from a single fertilized egg that splits and develops into two separate embryos, sharing the same genetic makeup.

Zygote

The cell formed by the union of a sperm and an egg at the beginning of conception, representing the earliest stage of human development.

Fertilization

The process by which male and female reproductive cells (gametes) combine to produce a new cell (zygote) that will develop into a fetus.

Gene Expressions

The process by which the information encoded in a gene is used to direct the assembly of a protein molecule.