Question

gary and felix are partners of a general partnership. gary does two-thirds of the partnership work, while felix does one-third of the work. last year the partnership earned $300,000 in profits. under the rupa, how much of the $300,000 is felix entitled to receive? group of answer choices

Answer 1

Under partnership Felix is entitled to receive $100,000. 1/3 × 300000 = $100000

In a partnership, parties who are referred to as business partners agree to work together to further their shared objectives. Individuals, companies, interest-based organisations, schools, governments, or combinations of these may be the partners in a partnership.

All partners in a general partnership are equally liable financially and legally. The debts that the partnership incurs are personally liable to the individuals. Equal shares are also given to profits. In a partnership agreement, the mechanics of profit sharing will almost definitely be spelled out in writing.

Organizations may work together to expand their reach and increase the likelihood that each will succeed in reaching their goals. A partnership may solely be controlled by a contract, or it may issue and hold stock.

Learn more about partnership here:

brainly.com/question/9909227

#SPJ4