The DEF partnership reported net income of $130,000 for the year ended December 31, 20X8. According to the partnership agreement, partnership profits and losses are to be distributed as follows: How should partnership net income for 20X8 be allocated to D, E, and F?
A) Option A
B) Option B
C) Option C
D) Option D

Question

The DEF partnership reported net income of $130,000 for the year ended December 31, 20X8. According to the partnership agreement, partnership profits and losses are to be distributed as follows:  How should partnership net income for 20X8 be allocated to D, E, and F? 
A) Option A 
B) Option B 
C) Option C 
D) Option D

Quizplus · Accepted Answer

The Answer is B

The DEF Partnership Reported Net Income of $130,000 for the Year