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.

---

Definitions:

Archival

Pertaining to the use or study of historical documents and records for research.

Self-Report

A method in which individuals provide data about themselves, often in questionnaires or interviews.

Ceiling Effect

A situation in a study where the measurement instrument has a maximum limit, preventing higher values from being observed.

Noise Level

The intensity of background sounds in an environment, potentially affecting individuals' performance or well-being.