The terms of a partnership agreement provide that one of the partners is to receive a salary allowance of $30,000, plus a bonus of 20 percent of income after deduction of the bonus and the salary allowance. If income is $150,000, the bonus should be:
A. $20,000
B. $30,000
C. $18,000
D. $24,000
Answer: A
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a. TRUE b. FALSE
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