The Terms of a Partnership Agreement Provide That One of the Partners

question 49

Multiple Choice

The terms of a partnership agreement provide that one of the partners is to receive a salary allowance of $30,000,plus a bonus of 20 percent of income after deduction of the bonus and the salary allowance.If income is $150,000,the bonus should be:

• A)$18,000
• B)$20,000
• C)$24,000
• D)$30,000

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