Mathew, Patrick, and Robin and Have Capital Balances of $75,000

question 77

Multiple Choice

Mathew, Patrick, and Robin and have capital balances of $75,000, $120,000, and $93,000, respectively. As per the partnership agreement, Mathew gets a profit share of 2/9; Patrick gets 4/9; and Robin gets 3/9. Partnership agrees to pay $66,000 as final settlement to Mathew. How much bonus will Robin receive as a result of this transaction?

• A)$5,142
• B)$3,857
• C)$5,000
• D)$4,000

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Definitions:

Minimum Wage

The lowest legal salary that employers can pay workers, set by government laws to ensure a minimum standard of living for employees.

Money Supply Growth Rate

The rate at which the amount of money available in an economy is growing, influencing inflation and economic stability.

Phillips Curve

A concept suggesting an inverse relationship between the rate of inflation and the rate of unemployment within an economy.

Desired Expenditures

The amount of spending households, firms, and the government wish to make, usually influenced by economic conditions and policies.