Activity 1 Law on Partnership

Quiz
•
Financial Education
•
University
•
Hard
Marvin Cabantac
Used 8+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What was the outcome in the case of Jaime Sahot when his employer claimed he was an industrial partner?
Jaime was proven to be an industrial partner
The court rejected the defense of industrial partnership
Jaime received compensation as an employee
The employer was required to pay separation pay
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the case of Duco vs.Lazo, what is the significance of sharing gross returns in establishing a partnership?
It automatically proves the existence of a partnership
It is irrelevant in determining a partnership
It is a requirement to establish partnership
It is a sufficient condition for partnership
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
According to the text, what is the best evidence to prove the existence of a partnership?
Receipt of a share of profits
Sharing of gross returns
Oral agreement between parties
Contract or articles of partnership
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the case of Negre v. Workmen's Compensation Commission, what was Jose Negre's assertion to avoid payment of death benefits?
He was an industrial partner
He was a joint venture with the crew members
His crew members were his employees
He had a profit-sharing agreement with the crew
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If a person receives wages in an employment relationship, what inference is drawn according to the case?
The person automatically becomes a partner in the business
The person is not considered an employee
The person is a partner in a separate business
The person might be an employee and not a partner
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can the existence of a partnership be proven in the absence of a contract or articles of partnership?
By the receipt of a share of profits of a business
By only providing circumstantial evidence
By showing that an agreement was not required
By submitting a public instrument
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the main criteria to establish the existence of a partnership as defined in the text?
An agreement in writing is required to establish a partnership
Sharing of gross returns is sufficient to establish a partnership
Contribution of money, property, or industry to a common fund with the intention of dividing profits
Dividing profits among a large group of individuals
Create a free account and access millions of resources
Similar Resources on Wayground
6 questions
Chapter (13). Corporation

Quiz
•
University
10 questions
2F: Factors that Impact Income

Quiz
•
9th Grade - University
15 questions
Stock Market & Financial Statements MCQs

Quiz
•
University
10 questions
Law on Partnership

Quiz
•
University
15 questions
Accounting Quiz on Partnerships

Quiz
•
University
8 questions
Financial Management Quiz

Quiz
•
University
10 questions
Admission and retirement

Quiz
•
University
12 questions
Introduction to Financial Management Quiz

Quiz
•
University
Popular Resources on Wayground
15 questions
Hersheys' Travels Quiz (AM)

Quiz
•
6th - 8th Grade
20 questions
PBIS-HGMS

Quiz
•
6th - 8th Grade
30 questions
Lufkin Road Middle School Student Handbook & Policies Assessment

Quiz
•
7th Grade
20 questions
Multiplication Facts

Quiz
•
3rd Grade
17 questions
MIXED Factoring Review

Quiz
•
KG - University
10 questions
Laws of Exponents

Quiz
•
9th Grade
10 questions
Characterization

Quiz
•
3rd - 7th Grade
10 questions
Multiply Fractions

Quiz
•
6th Grade