Use the Following Information to Answer the Question(s) Below

question 4

Multiple Choice

Use the following information to answer the question(s) below.

A summary balance sheet for the Lemon, Mango, and Nobb partnership appears below. Lemon, Mango, and Nobb share profits and losses in a ratio of 2:3:5, respectively.
The partners agree to admit Oran for a one-fifth interest. The fair market value of partnership land is appraised at $200,000 and the fair market value of inventory is $175,000. The assets are to be revalued prior to the admission of Oran and there is $30,000 of goodwill that attaches to the old partnership.

-What will the profit and loss sharing ratios be after Oran's investment?

• A)1:2:4:2
• B)2:3:5:2
• C)3:4:6:2
• D)4:6:10:5

Assess the implications of major international agreements, such as the Geneva Convention, the Uruguay Round Agreements, and NAFTA.

Understand the principles of the most favored nation and their applications in international trade.

Evaluate the role of various international organizations in economic development, including the World Bank and IMF.

Explore the concept of a "new world order" across different dimensions: economic, cultural, and ideological.

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Definitions:

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