Adam, Bill, and Charlie Are Partners

question 139

Multiple Choice

Adam, Bill, and Charlie are partners. The profit and rule sharing rule between them is 2:5:3, with Bill getting the most and Adam getting the least. The partnership incurs a net loss of $72,000. While closing the Income Summary:

• A)Income Summary will be debited for $72,000.
• B)Adam, Capital will be debited for $14,400.
• C)Adam, Capital will be credited for $36,000.
• D)Charlie, Capital will be credited for $36,000.

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Definitions:

Fluidity

The quality of being adaptable and capable of changing easily in response to varying conditions.

Biopsychosocial Approach

A method that examines psychological, biological, and social factors and their complex interactions in understanding health, illness, and health care delivery.

Biological Factors

Elements within an organism's biological system that influence its behavior, health, and development.

Sexual Orientation

Describes a person's enduring pattern of emotional, romantic, or sexual attraction to others.