Austin Invests $80,000 for a 20 Percent Interest in a Partnership

question 133

Multiple Choice

Austin invests $80,000 for a 20 percent interest in a partnership that has capital totaling $300,000 after admitting Austin.Which of the following is true?

• A)The original partners received a bonus of $20,000.
• B)Austin received a bonus of $20,000.
• C)Austin's capital is $80,000.
• D)The original partners' capital in the business was $240,000 before admitting Austin.

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Definitions:

Inferential Statistics

The branch of statistics that allows for the making of predictions or inferences about a population based on a sample of data.

Descriptive Statistics

Statistical methods that summarize and describe the features of a dataset, including measures such as mean, median, mode, and standard deviation.

Study Group

A group of individuals participating in a research study or an educational activity aimed at learning or investigating a particular topic.

Take Notes

The practice of writing down important information from a lecture, book, or any other source to facilitate learning and recall.