Keith and Jim Are Partners

question 107

Multiple Choice

Keith and Jim are partners.Keith has a capital balance of $49,000 and Jim has a capital balance of $38,000.Bill invested $33,000 to acquire an ownership interest of 30%.Which of the following statements is true of this transaction?

• A)Keith and Jim received a bonus of $1,500 each.
• B)Bill received a bonus of $4,900.
• C)Keith and Jim received a bonus of $2,450 each.
• D)Bill received a bonus of $3,000.

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Definitions:

Customer Service

Help and counsel given by an organization to customers who acquire or engage with its offerings.

Relationship Marketing

A strategy designed to foster customer loyalty, interaction, and long-term engagement rather than focusing solely on short-term goals such as customer acquisition and individual sales.

Mutual Long-Term Benefits

A principle emphasizing partnerships or agreements that are designed to provide ongoing advantages to all parties involved over an extended period.

Marketing Concept

A business philosophy that focuses on identifying and meeting the needs and wants of customers as the key to achieving profitability.