Albert, Billy, and Cathy Share Profits and Losses of Their

question 79

Multiple Choice

Albert, Billy, and Cathy share profits and losses of their partnership as 2:5:3. If the net income is $50,000, calculate the profit share of Billy.

• A)$20,000
• B)$15,000
• C)$25,000
• D)$10,000

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Definitions:

Terminal Moraine

A moraine that forms at the farthest point reached by a glacier or ice sheet, marking its maximum advance.

Recessional Moraine

A ridge of debris deposited at the point of furthest retreat of a glacier or ice sheet.

Continental Ice Sheet

A vast expanse of ice covering a large portion of a continental area, often thousands of kilometers wide and extremely thick.

Teardrop-Shaped Hills

Elongated hills formed by the erosion of underlying soft rock covered by a harder rock cap, often found in arid climates.