A written Partnership Agreement states: Partner A is to contribute capital of $20,000 and devotes full time work to the partnership. Partner B is to contribute capital of $30,000 and devotes half time work to the partnership. Therefore, in what ratio is net income to be divided? Group of answer choices a) 1:2 b) 3:5 c) 2:3 d) 1:1
A written Partnership Agreement states: Partner A is to contribute capital of $20,000 and devotes full time work to the partnership. Partner B is to contribute capital of $30,000 and devotes half time work to the partnership. Therefore, in what ratio is net income to be divided? Group of answer choices a) 1:2 b) 3:5 c) 2:3 d) 1:1
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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A written Partnership Agreement states: Partner A is to contribute capital of $20,000 and devotes full time work to the partnership. Partner B is to contribute capital of $30,000 and devotes half time work to the partnership. Therefore, in what ratio is net income to be divided?
Group of answer choices
a) 1:2
b) 3:5
c) 2:3
d) 1:1
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