Bill and Bob Share Profits of Their Partnership Firm in the Ratio

question 96

Multiple Choice

Bill and Bob share profits of their partnership firm in the ratio of 5:1. If the net income of the firm is $30,000, calculate the share of Bill's net income.

• A)$20,000
• B)$5,000
• C)$30,000
• D)$25,000

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Definitions:

Depreciates

To decrease in value over time, typically used in reference to assets or property.

Bicycle

A human-powered, pedal-driven vehicle with two wheels attached to a frame, one behind the other.

Parallel

Describes lines, planes, or surfaces that are always the same distance apart and never intersect.

Line

In geometry, a line is an infinitely long, straight one-dimensional figure having no thickness and extending in both directions.