Gary, Peter, and Chris and Have Capital Balances of $25,000

question 13

Multiple Choice

Gary, Peter, and Chris and have capital balances of $25,000, $40,000, and $31,000, respectively. As per the partnership agreement, Gary gets a profit share of 2/9; Peter gets 4/9; and Chris gets 3/9. The partnership agrees to pay $22,000 as the final settlement to Gary. How much bonus does Peter receive as a result of this transaction?

• A)$1,714
• B)$1,286
• C)$1,667
• D)$1,333

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Definitions:

Environmental Refugees

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Warmer World

A reference to the phenomenon of global warming, indicating an increase in Earth's average surface temperature due to greenhouse gas emissions.

Evolutionary Adaptation

The process by which organisms adjust to their environment over time through changes in genetics, behavior, or physiology, enhancing their survival and reproduction.

Precautionary Principle

A strategy for approaching issues of potential harm when extensive scientific knowledge is lacking, emphasizing caution, pausing, and review before proceeding.