Partnership Quiz

Partnership Quiz

11th Grade

15 Qs

quiz-placeholder

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Partnership Quiz

Partnership Quiz

Assessment

Quiz

Business

11th Grade

Practice Problem

Medium

Created by

Megha Kaushik

Used 2+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a partnership in business?

A form of business where two or more people share ownership and management responsibilities

A form of business where the government owns and manages the company

A form of business where one person owns and manages the company

A form of business where employees own and manage the company

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How many persons are required to form a partnership?

At least one person

At least two persons

At least three persons

At least four persons

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the basis of a partnership between partners?

Email agreement

Verbal agreement

Written agreement

Oral agreement

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the maximum number of partners allowed in a partnership?

10 partners

No maximum limit

50 partners

20 partners

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the significance of sharing gains and losses in a partnership?

Only losses are shared

Neither gains nor losses are shared

Gains and losses are shared

Only gains are shared

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the business motive required for a partnership?

Non-profit motive

Charity motive

Profit gaining motive

Social motive

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the relationship between partners in a partnership?

Customer-Supplier

Principal-Agent

Employer-Employee

Competitor

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