Partnership

Partnership

12th Grade

10 Qs

quiz-placeholder

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Partnership

Partnership

Assessment

Quiz

Other

12th Grade

Medium

Created by

Iradatul Aqilah Mohammad Jefri

Used 30+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What is a partnership?

A business owned by more than 50 people

A business owned by one person

A business owned by two or more people (less than 20)

A business owned by exactly 2 people

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The net profit after appropriation of Partners A, B, C and D is $20,000. They share their profits equally. How much will C receive?

3.

MULTIPLE CHOICE QUESTION

20 sec • 1 pt

What happens if there is NO partnership agreement?

Partnership will cease to exist

Partnership Act will be implemented

Partnership becomes a Sole Trader

Nothing will happen

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Partnership Act states that if there is no Partnership Agreement, partners will share their profit or losses ____________

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is there an interest on capital or interest on drawing in the Partnership Act?

Yep, 5% each!

5% for interest on capital, 3% for interest on drawings

3% for interest on capital,

5% for interest on drawings

No interest for both!

6.

DRAW QUESTION

3 mins • 1 pt

Mark where interest on drawings will be in the current account (Mark X on the correct side)

Media Image

7.

DRAW QUESTION

3 mins • 1 pt

Mark where share of profit will be in the current account (Mark an X on the correct side)

Media Image

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