Farrell and Jimmy Enter into a Partnership Agreement on 1

question 28

Multiple Choice

Farrell and Jimmy enter into a partnership agreement on 1 May 2017.Farrell contributes $50,000 and Jimmy contributes $160,000 as their capital contributions.They decide to share profits and losses in the ratio of their respective capital account balances.The net profit for the year ended 31 December 2017 is $60,000.Which of the following amounts should be credited to Jimmy's capital account?

• A)$45,714
• B)$60,000
• C)$14,286
• D)$50,000

Understand the principles and structure of the U.S. Constitution as it relates to federal authority.

Recognize the roles and limitations of the U.S. Congress, the President, and the Judiciary under the U.S. Constitution.

Identify the importance of the Bill of Rights and subsequent amendments in regulating business.

Understand the constitutional basis for the regulation of commercial speech.

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Definitions:

Sensory Quality

Attributes of sensory stimuli, such as visual brightness or auditory pitch, that can be measured and experienced.

Neural Signal

Electric or chemical signals transmitted by neurons for communication throughout the nervous system.

Sensory Coding

The process by which sensory organs translate stimuli into neural signals for the brain to interpret.

Kinesthesis

The sensations generated by receptors in the muscles, tendons, and joints that inform us of our skeletal movement.