Jim, Rob and Emily Are Partners in a Consulting Business

question 9

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. Jim pays the entire $60,000 debt to the Vancouver Credit Union. How much can he collect from Rob?

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

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Definitions:

Heterosexuality

A sexual orientation characterized by a romantic or sexual attraction to people of the opposite gender.

Bisexuality

A sexual orientation characterized by the capacity to feel sexual or romantic attraction towards both men and women.

Two-Spirits

A term used by some Indigenous North American cultures to describe a person who embodies both masculine and feminine spirits.

Shamans

are individuals believed to have access to, and influence in, the world of benevolent and malevolent spirits, often within indigenous and tribal societies.