partnership & corpo

partnership & corpo

University

21 Qs

quiz-placeholder

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partnership & corpo

partnership & corpo

Assessment

Quiz

Other

University

Hard

Created by

Ashley Guadalupe

Used 2+ times

FREE Resource

21 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 mins • 1 pt

Composed of capitalist and industrial partners

Universal partnership

General partnership

Limited partnership

None of the above

2.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Partnership is a form of business

True

False

3.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Tick the situations in which a partnership firm comes to an end

Retirement

Death

Insolvency

Fulfillment of the object

4.

MULTIPLE SELECT QUESTION

30 sec • 1 pt

Which of the followings are the usual clause of Partnership Agreement

Firm's name

Place of business

Nature of partnership business

Partner's list of personal property

5.

FILL IN THE BLANK QUESTION

30 sec • 1 pt

Formal disbanding of partnership - _________________________.

 

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Mima and Mimi are about to liquidate their partnership. They each have 350,000 capital balances and share profits and losses in a 1:3 ratio. The partnership has 200,000 cash, 700,000 noncash assets and 200,000 payable. Assuming that noncash asset are sold for 720,000, How much is paid to Mimi?

350,000

300,000

335,000

365,000

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A proportional distribution by a corporation of its own share that affects only the shareholders' equity section of the statement of financial position.

Cash dividend

Share dividend

Liquidating dividend

Property dividend

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