
Quiz 1: Partnership
Authored by NIMIAH DAYAO
Business
University
Used 2+ times

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15 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following is NOT a disadvantage of Partnership over Corporation?
Unlimited Liability
Ease of Formation
Limited Life
None of the Above
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the partners are known to the public but not an actual partner?
Secret Partner
Ostensible Partner
Leonin Partner
General Partner
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The following are the rights of a partner except
Property Right
Right to assign his profit share to a 3rd person
Right to inspect books
Right to use the partnership asset for personal use
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The following are the characteristics of a General Partner, except
Can manage the business
Can contribute money, property and industry
Can engage to other business without the consent of other partners
His name can be included in the name of the Partnership
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following is NOT required in the Articles of Co-Partnership?
Name of the Partnership
Name of the Partners
Nature of the business
Age of the partners
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following partner is not known to the public?
Dominant Partner
Secret Partner
Nominal Partner
Limited Partner
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Which of the following can NOT contribute skills and expertise in a partnership?
General Partner
Secret Partner
Limited Partner
Ostensible Partner
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