
Partnership and Corporation Accounting
Quiz
•
Financial Education
•
Professional Development
•
Practice Problem
•
Medium
Rejeane Braga
Used 22+ times
FREE Resource
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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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