Partnership and Corporation Accounting

Partnership and Corporation Accounting

Professional Development

20 Qs

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Partnership and Corporation Accounting

Partnership and Corporation Accounting

Assessment

Quiz

Financial Education

Professional Development

Practice Problem

Medium

Created by

Rejeane Braga

Used 22+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The contract of partnership is based on mutual trust and confidence.

True

False

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Only the managing partners are entitled to know the contents of the Articles of Co-Partnership.

True

False

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A partnership has a juridical personality separate and distinct from owners.

True

False

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A partnership contract is perfected by mere consent.

True

False

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A partnership Contract can be written or unwritten.

true

False

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In organizing a partnership, the partners' agreement must be embodied in a public instrument, referred to as the Articles of Incorporation.

True

False

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Each partner has an equal right to use the partnership assets, act for the partnership, and to enter into contracts binding upon it.

True

False

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