In the LMN Partnership,Lynn's Capital Is $60,000,Marty's Is $80,000,and Nancy's

question 56

Multiple Choice

In the LMN partnership,Lynn's capital is $60,000,Marty's is $80,000,and Nancy's is $70,000.They share income in a 4:3:3 ratio,respectively.Nancy is retiring from the partnership.Each of the following questions is independent of the others.
-Refer to the above information.Nancy is paid $76,000,and all implied goodwill is recorded.What is the total amount of goodwill recorded?

• A)$20,000
• B)$14,000
• C)$6,000
• D)$0

Recognize the limitations and security concerns associated with electronic communication.

Identify and employ correct sentence structures in written communication.

Implement effective strategies for managing and annotating incoming mail.

Apply proofreading techniques to ensure accuracy in written documents.

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Definitions:

Experimental Research

A research method that investigates causal relationships by manipulating one variable to see its effect on another, under controlled conditions.

Independent Variable

The variable that is manipulated in an experiment to test its effects on the dependent variable.

Dependent Variable

A variable in an experiment that is expected to change in response to manipulations of the independent variable.

Correlational Study

A research methodology that examines the relationship or association between two or more variables without determining causal direction.