Which of the Following Statements Is True

question 138

Multiple Choice

Which of the following statements is true?

• A) Salaries to partners are expenses on the partnership income statement.
• B) Interest allowances are expenses.
• C) Salary allowances are expenses.
• D) Partners are employees of the partnership.
• E) Salary allowances usually reflect the relative value of services provided by partners.

---

Definitions:

Perceptual Illusions

Misinterpretations or misunderstandings of how our senses perceive the environment.

Figure-Ground

A visual perception principle where the viewer can distinguish an object (the figure) from its surrounding environment (the ground).

Proximity

Proximity refers to the physical or psychological closeness between people, objects, or ideas, influencing interactions and relationships.

Closure

in psychological terms, refers to an individual's need for a sense of resolution or conclusion to an emotional or traumatic experience or event.