Use the Following Information to Answer the Question(s) Below

question 4

Multiple Choice

Use the following information to answer the question(s) below.

A summary balance sheet for the Lemon, Mango, and Nobb partnership appears below. Lemon, Mango, and Nobb share profits and losses in a ratio of 2:3:5, respectively.
The partners agree to admit Oran for a one-fifth interest. The fair market value of partnership land is appraised at $200,000 and the fair market value of inventory is $175,000. The assets are to be revalued prior to the admission of Oran and there is $30,000 of goodwill that attaches to the old partnership.

-What will the profit and loss sharing ratios be after Oran's investment?

• A)1:2:4:2
• B)2:3:5:2
• C)3:4:6:2
• D)4:6:10:5

Discuss the principles governing the choice of law and venue in contract disputes and other legal matters.

Comprehend the limitations of appellate review, particularly regarding the appealability of decisions and the availability of juries at the appellate level.

Grasp the procedural and jurisdictional nuances in filing and appealing cases within the U.S. legal system.

Understand the stages of team development and their characteristics.

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Definitions:

Difference Threshold

The smallest amount of change in a stimulus that can be detected as different from the original stimulus.

Subliminal Threshold

The level below which a stimulus is not consciously detected but can still influence thoughts, feelings, or actions.

Stimulation

The action of arousing interest, excitement, or activity in someone or something.

Sensation

The process by which sensory receptors and the nervous system receive and represent stimuli from the environment.