In the ABC Partnership (To Which Daniel Seeks Admittance),the Capital

question 22

Multiple Choice

In the ABC partnership (to which Daniel seeks admittance) ,the capital balances of Albert,Bert,and Connell,who share income in the ratio of 5:3:2 are:

-Based on the preceding information,if no goodwill or bonus is recorded,how much should Daniel invest for a 20 percent interest?

• A)$400,000
• B)$200,000
• C)$300,000
• D)$250,000

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Definitions:

Kind of Person

Describes the general character or personality traits that distinguish an individual.

Faulty Reasoning

This is an erroneous thought process characterized by making illogical conclusions or connections between ideas or events.

Unconscious Impulses

Desires or wishes that reside in the unconscious mind, influencing behavior without the individual's conscious awareness.

Kelly

Refers to George A. Kelly, a psychologist known for his personal construct theory which depicts how individuals construct and predict their world.