Steve and Roger Allocate 2/3 of the Profits and Losses

question 16

Multiple Choice

Steve and Roger allocate 2/3 of the profits and losses to Steve and 1/3 to Roger. If the net income of the firm is $30,000, calculate the share of Roger's net income.

• A)$20,000
• B)$10,000
• C)$30,000
• D)$25,000

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Definitions:

Civil Rights

The rights of citizens to political and social freedom and equality, often protected under the law against discrimination or oppression based on race, religion, sex, and other statuses.

Protestants

Followers of Protestantism, a branch of Christianity that originated with the Reformation in the 16th century, emphasizing the authority of the Bible and justification by faith alone.

Jews

An ethnoreligious group originating from the Israelites or Hebrews of the ancient Near East, adhering to Judaism.

Diamond Necklace Affair

A scandal in 18th-century France involving a fraudulent transaction of an expensive diamond necklace, which tarnished the reputation of Queen Marie Antoinette.