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:

Structure

The arrangement or organization of components within a system, or the framework that defines the relationship between different parts.

Attribution Theory

A theory that focuses on how individuals interpret events and how this relates to their thinking and behavior.

Implicit Personality Theory

The assumption that people make about how different types of personality traits are interconnected, influencing how they perceive others.

Impression Formation

The psychological process by which individuals form opinions or judgments about other people based on initial perceptions and subsequent interactions.