NO.PZ2018053101000029
问题如下：
The distribution method by whichprofits generated by a fund are allocated between LPs and the GP is called:
选项：
A.a waterfall.
B.an 80/20 split.
C.a fair division.
解释：
Ais correct. Although profits are typically split 80/20 between LPs and the GP,the distribution method of profits is not called an “80/20 split.” “Fairdivision” is not a real term that exists in the industry.
请问waterfall该怎么理解？
