ch.6 Ownership of firms
Authored by Yan Kin Chow
Education
9th - 12th Grade
Used 1+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a feature of a partnership?
Some partners can enjoy limited liability.
The business will be dissolved on the death of any one partner.
All partners share the profit of the firm equally.
Shares can be transferred with the consent of the majority of partners.
2.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
The type of ownership of Firm A (a) .
3.
FILL IN THE BLANKS QUESTION
1 min • 1 pt
The ownership of firm B is (a) .
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Peter and Joan form a partnership. Which of the following is true?
One of them enjoys limited liability
Peter and Joan share the profits, if any, equally
If Peter borrow money in the name of the partnership,
Joan is also liable for his debt
Peter can transfer his ownership in the partnership without Joan's agreement.
5.
OPEN ENDED QUESTION
3 mins • 1 pt
What is meant by limited liability?
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