Ben White and Lisa Caputi Are Partners, and Each Has

question 31

Multiple Choice

Ben White and Lisa Caputi are partners, and each has a capital balance of $50,000. To gain admission to the partnership, Tim Smith pays $30,000 directly to White for one-half of his equity. After the admission of Smith, the total partners' equity in the records of the partnership will be

• A) $150,000.
• B) $130,000.
• C) $125,000.
• D) $100,000.

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Definitions:

High School Graduates

High school graduates refer to individuals who have successfully completed the coursework and requirements of a secondary education program.

College Education

The process of learning and education that takes place at institutions of higher learning, typically after secondary education.

Standard Deviations

A measure of the amount of variation or dispersion of a set of values, indicating how much the values differ from the mean of the data set.

Coin

A small, flat, circular piece of metal issued by a government as money.