Partners H & I share profit and loss in an agreed ratio of 90/10 . In the case of a net loss of $10,000, Partner I's capital account would be:

a. Credited for $1,000
b. Debited for $9,000
c. Debited for $1,000

d. Would not be affected

c

Business

You might also like to view...

The Canadian Human Rights Act

a. includes legal protection for sexual orientation. b. requires comparable worth (or pay equity) for males and females in occupations of equal difficulty. c. only applies to industries that are federally regulated. d. All of the above

Business

Which of the following is characteristic of a command allocation system?

A) The government's role is to ensure the protection of consumer rights. B) Product distribution is handled by a large number of intermediaries. C) The state makes decisions on what consumers should purchase. D) Consumers allocate resources to the system.

Business