PARTNERSHIP AND CORPORATION - GENERAL CONCEPT AND FORMATION

Quiz
•
Business
•
University
•
Hard
Carlo MBA
Used 46+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A characteristic describing a partnership as a juridical personality which can acquire, sell or dispose properties and incur obligation is called
taxable entity
legal entity
mutual entity
voluntary entity
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
a business such as partnership has to file its partnership agreement and register its firm's name with these government agencies except one
Securities and Exchange Commission
Department of Trade and Industries
National Bureau of Investigation
Bureau of Internal revenue
3.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
An industrial partner cannot be a general partner
True
False
4.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
A capitalist partner cannot be a limited partner
False
True
5.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The partner's personal account which was collected by partnership and credited to its account receivable is a violation of the
Partner's Equity Concept
Business Entity Concept
Realization Principle
Accrued principle
6.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
It is easier to change ownership in a corporation than in a partnership
True
False
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The partners have the following rights except one
share in profits
receive net assets at liquidation point
co manage the business
transfer ownership at will
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