Rodriguez and Ying Start a Partnership Business on July 1

question 123

Multiple Choice

Rodriguez and Ying start a partnership business on July 1, 2014. Rodriguez brings in cash worth $4,000, furniture with a current market value of $50,000, and computer equipment. The computer equipment cost $45,000 in 2011 and has an accumulated depreciation of $25,000. The current market value of the computer equipment is $18,000. At what value should the computer equipment be recorded in the books of the partnership firm?

• A)$45,000
• B)$18,000
• C)$20,000
• D)$25,000

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Definitions:

Training

The process of providing employees with the knowledge and skills necessary to perform their job duties effectively and efficiently.

Planned Effort

A deliberate and structured attempt to achieve a specific goal, often involving a series of actions or tasks.

Needs Assessment

The process of determining the gap between an organization's current state and its desired state to identify training or developmental needs.

Quality Standards

Preset criteria that outline the expectations for products or services to ensure they meet customer needs and regulatory requirements.