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The Terms of a Partnership Agreement Provide That One of the Partners

Question 2

Multiple Choice

The terms of a partnership agreement provide that one of the partners is to receive a salary allowance of $20,000 plus a bonus of 10 percent of income after deduction of the bonus and the salary allowance.If income is $130,000,the bonus should be:


A) $10,000
B) $11,000
C) $12,222
D) $20,000

Correct Answer:

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