Allison and Josh Are Partners in a Business

question 22

Multiple Choice

Allison and Josh are partners in a business. Allison's capital is $60,000 and Josh's capital is $100,000. Profits for the year are $80,000. They agree to share profits and losses as follows: Josh's share of the profit is:

• A)$32,000.
• B)$44,000.
• C)($8,000).
• D)None of the above.

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Definitions:

Albert Ellis

A psychologist known for developing Rational Emotive Behavior Therapy (REBT), a form of cognitive-behavioral therapy focusing on changing irrational beliefs.

Aaron Beck

A psychiatrist known as the father of cognitive therapy, which focuses on changing negative thoughts and beliefs.

Placebo Effect

The apparent success of a medication or treatment due to the patient’s expectations or hopes rather than to the drug or treatment itself.

Novelty Bias

The tendency of individuals to prefer novel objects or experiences over familiar ones.