Question

A partnership with 7 partners distributes its profits of $280,000 equally tthe partners. How much does each partner get?

a) $7,000
b) $40,000
c) $70,000
d) $280,000

Answer 1

The correct answer is Option B. Each partner in the partnership will receive $40,000 when the total profit of $280,000 is distributed equally among 7 partners.

Step-by-step explanation:

If a partnership with 7 partners distributes its profits of $280,000 equally among the partners, to calculate how much each partner gets, you would divide the total profits by the number of partners.

Here is the step-by-step calculation:

1. Total profits = $280,000
2. Number of partners = 7
3. Amount received by each partner = Total profits ÷ Number of partners
4. Amount received by each partner = $280,000 ÷ 7
5. Amount received by each partner = $40,000

So, each partner will receive $40,000, which corresponds to option b.