Sasha and Michelle Form a Partnership

question 103

Multiple Choice

Sasha and Michelle form a partnership.Sasha contributes $16,000 cash and merchandise inventory with a current market value of $3000.While journalizing this transaction ________.

• A) Merchandise Inventory will be credited for $3000
• B) Merchandise Inventory will be debited for $3000
• C) Merchandise Inventory will be credited for $13,000
• D) Merchandise Inventory will be debited for $13,000

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A benchmark that represents the performance of a group of stocks, indicating the overall trend in the equity market.

Portfolio Manager

A professional responsible for making investment decisions and overseeing a portfolio of assets to achieve the investor's objectives.

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The full range of investment options available for asset allocation.

Investment Company

An entity, either a corporation or trust, that specializes in gathering and investing collective funds from investors into financial securities.