Immediately prior to the admission of Abbott, the Smith-Jones Partnership assets had been adjusted to current market prices and the capital balances of Smith and Jones were $40,000 and $60,000, respectively. If the parties agree that the business is worth $120,000, what is the amount of bonus that should be recognized in the accounts at the admission of Abbott?

A) $60,000
B) $80,000
C) $40,000
D) $20,000

Which of the following would not be an acceptable way to express contribution margin?

A) Sales minus variable costs
B) Sales minus unit costs
C) Unit selling price minus unit variable costs
D) Unit contribution margin divided by unit selling price

All of the following are examples of the context factor as an influence on team effectiveness,except:

A) technology
B) organizational rewards and punishments
C) member roles and diversity
D) physical working conditions