During the Current Year,ALF Partnership Reported the Following Items of Receipts

question 16

True/False

During the current year,ALF Partnership reported the following items of receipts and expenditures: $200,000 sales,$10,000 utilities,$12,000 rent,$50,000 salaries to employees,$30,000 guaranteed payment to partner Lloyd,investment interest income of $3,000,a charitable contribution of $5,000,and a distribution of $10,000 to partner Frank.Arnold,a 40% partner,will receive a K-1 that reflects a $39,200 share of partnership ordinary income,a $1,200 share of partnership interest income,and a $2,000 charitable contribution.

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Definitions:

Drive-Reduction Theory

the idea that a physiological need creates an aroused state (a drive) that motivates an organismto satisfy the need

Physiological State

The condition of normal function of a living organism’s body, including its physical and chemical processes.

Motivational Arousal

The process of being internally stimulated to perform an action or behavior due to personal drive or desire.

Physiological Needs

Basic life needs required for human survival, such as air, water, food, shelter, and sleep, according to Maslow's hierarchy of needs.