It Is Agreed in the Partnership Agreement of R and B

question 57

Multiple Choice

It is agreed in the partnership agreement of R and B that profit and loss sharing arrangements will be based on the ratio of the partner's capital balances. R and B have capital balances of $75 000 and $50 000 respectively at the end of the accounting period. If profit is $38 000 the profit allocations of each of the partners is:

• A) R $19 000; B $19 000.
• B) R $22 800; B $15 200.
• C) R $20 000; B $18 000.
• D) unable to be calculated from the information provided.

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Definitions:

Token Economy

A behavior modification system that uses tokens as a form of reward for performing targeted behaviors, which can later be exchanged for specific rewards.

Accumulates

means to gather or collect items over time, often resulting in an increasing quantity.

Marbles

Small, round objects, typically made of glass, clay, steel, plastic, or agate, used as playing pieces in various children's games or as a collectible item.

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, where an association is made between a behavior and a consequence for that behavior.