Tom and Jerry Are Two Sole Traders That Have Joined

question 64

Multiple Choice

Tom and Jerry are two sole traders that have joined together to form a partnership by combining their net assets.
Jerry contributes:

The amount credited to Jerry's capital account is:

• A) $(10 500).
• B) $28 500.
• C) $30 500.
• D) $32 000.

---

Definitions:

Sales Process

A sequence of steps taken by a sales team to move a potential customer from early interest to the final purchase.

Trade Shows

Events where companies in a specific industry showcase and demonstrate their new products or services to potential buyers.

Salesperson's Time

Salesperson's time involves the allocation and management of a sales professional's working hours to optimize sales activities, customer meetings, and administrative tasks.

Qualify Leads

The process of assessing potential clients to determine whether they have the need, authority, and resources to purchase a product or service.