Intro to Partnership
Authored by Dianne Tang-See
Business
University
Used 1K+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
An industrial partner cannot be a general partner.
True
False
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The characteristic of unlimited liability is a disadvantage on the point of view of the creditor.
True
False
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
It is easier to change ownership in a corporation than in a partnership.
True
False
4.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
Which of the following is not a characteristic of all partnerships?
taxable entity
co-ownership of property
mutual agency
voluntary association
5.
MULTIPLE CHOICE QUESTION
1 min • 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
6.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
A partnership has an indefinite life like a corporation.
True
False
7.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Access to more capital is an advantage of a partnership over a sole proprietorship.
True
False.
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