WorksheetsPartnership
Total questions: 16
Worksheet time: 12mins
A partnership has between 2 and 20 ______________.
employees
shareholders
owners
customers
To start a partnership business, what should be the minimum number of partners?
2
10
4
20
The maximum number of members in a Partnership is ____.
10
20
50
Unlimited
In partnership, partners liabilities are
Limited
Unlimited
Limited to the capital invested
Limited to the amount mentioned
Unlimited liability means
the business is closed down because of too much debt
the owners' personal possessions can be used to cover the firm's debts
the bank will refuse to give loans to the business
the business will struggle to attract investors
Which of the businesses has unlimited liability?
Sole Trader
Partnership
Both
None
Which is not a feature of a partnership business?
Easy Formation
Mutual Agency
Limited Liability
Two or more person
What is the partnership written agreement known as?
Partnership Contract
Partnership Act
Agreement
Partnership Deed
Which of the following listed would be an example of a partnership?
the fire service
lawyer's office
local councils
supermarkets
Seema and Beena partnered together to provide food and clothing to the needy by collecting it from the neighbourhood. Can this be called a partnership firm
Yes
No
Maybe
None of the above
A _______________ partner is one does not take part in the day to day running of the business.
Active
Sleeping
Secret
Nominal
Decision is taken in partnership firm
Individually
By the partner who has invested more money
By anyone
Mutually ( all partners together)
