Mr Duckworth Owned 3/8 of a Store

question 103

Essay

Mr. Duckworth owned 3/8 of a store. He sold 2/3 of his interest in the store for $37 000. What was the value of Mr. Duckworth's share of the store?

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Definitions:

Responsibility Center

An organizational unit for which a manager is assigned responsibility over costs, revenues, or assets.

Department Manager

A position responsible for overseeing the operations, productivity, and personnel of a specific department within an organization.

Revenues

The cumulative financial gain acquired by transacting goods or services indispensable to an enterprise's principal undertakings.

Decentralization

The distribution of decision-making powers from a central authority to smaller units or individuals within an organization.