Jim, Rob and Emily Are Partners in a Consulting Business

question 15

Multiple Choice

Jim, Rob and Emily are partners in a consulting business. Jim's initial contribution was $30,000, Rob's was $20,000 and Emily's was $10,000. The partnership also borrows $60,000 from Vancouver Credit Union. The partners agree that profits and losses will be shared in proportion to their capital contributions. The business fails. What is Jim's liability to Vancouver Credit Union?

• A) $60,000
• B) $30,000
• C) $20,000
• D) $10,000
• E) Nothing

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Definitions:

Negative Attitude

A pessimistic outlook or disposition towards people, situations, or events, often hindering progress and positive outcomes.

Emotional Intelligence

Being able to identify, control, and communicate one’s emotions, along with managing relationships with others in a sensible and empathetic manner.

Emotional Tasks

Activities or duties that require managing and expressing emotions appropriately.

Components of Attitudes

The three main elements that make up attitudes: cognitive (beliefs and thoughts), affective (emotions and feelings), and behavioral (actions or intentions to act).