Roger and Reese Have Agreed to Share Profits in a 3:2

question 186

Multiple Choice

Roger and Reese have agreed to share profits in a 3:2 ratio,respectively.Assuming the business incurred a loss of $70,000,Roger's share of the loss is:

• A) the same as Reese's share of the loss
• B) $42,000
• C) $28,000
• D) $28,000 to each and balance split evenly

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Definitions:

Generalizing

Making broad statements or conclusions based on limited evidence or from a few examples.

Sample

A subset of individuals, items, or data taken from a larger population, used to conduct statistical analysis without examining the entire population.

Illusion Of Control

The tendency for people to overestimate their ability to control events; an unrealistic belief in one's influence over external events.

Gamblers

Individuals who risk something of value on the outcome of an event with an uncertain result, often with the primary intent of winning additional money or goods.