RD Formed a Partnership on February 10,20X9

question 10

Multiple Choice

RD formed a partnership on February 10,20X9.R contributed cash of $150,000,while D contributed inventory with a fair value of $120,000.Due to R's expertise in selling,D agreed that R should have 60 percent of the total capital of the partnership.R and D agreed to recognize goodwill.What is the total capital of the RD partnership and the capital balance of R after the goodwill is recognized?

• A) Option A
• B) Option B
• C) Option C
• D) Option D

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Definitions:

Uniform Commercial Laws

A set of laws that standardize and regulate sales and commercial transactions across different jurisdictions to facilitate easier and more predictable commerce.

CISG

Stands for the United Nations Convention on Contracts for the International Sale of Goods, which is a treaty that provides a uniform international sales law.

Global Trade

Entails the exchange of goods, services, and capital across international borders or territories, influenced by agreements, tariffs, and economic policies.

International Arbitration

A method used to resolve disputes between parties from different countries through the intervention of one or more arbitrators rather than through litigation.