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- Write the word or group of words that identify each of the following statements. 4. Any partner can act in behalf of the partnership as long as these acts are within the scope of normal partnership activity. 5. A partnership which failed to comply with one or more of the legal requirements for its establishment. 6. An entry prepared when industry is contributed into the partnership.II. Write the word or group of words that identify each of the following statements. 1. A partnership wherein all the partners have limited liability except or at least one general partner. 2. The contribution of an industrial partner 3. A partner who contributes money, property, and industry. 4. Any partner can act in behalf of the partnership as long as these acts are within the scope of normal partnership activity. 5. A partnership which failed to comply with one or more of the legal requirements for its establishment. 6. An entry prepared when industry is contributed into the partnership. 7. A partnership organized for the purpose of rendering service.…Write the word or group of words that identify each of the following statements. 1. A partner who contributes money, property, and industry. 2. Any partner can act in behalf of the partnership as long as these acts are within the scope of normal partnership activity. 3. A partnership which failed to comply with one or more of the legal requirements for its establishment.
- Write the word or group of words that identify each of the following statements. 1. A partnership wherein all the partners have limited liability except or at least one general partner. 2. The contribution of an industrial partner 3. A partner who contributes money, property, and industry. 4. Any partner can act in behalf of the partnership as long as these acts are within the scope of normal partnership activity. 5. A partnership which failed to comply with one or more of the legal requirements for its establishment. 6. An entry prepared when industry is contributed into the partnership. 7. A partnership organized for the purpose of rendering service. 8. A contract whereby two or more persons bind themselves to contribute money, property, or industry to a common fund with the intention of dividing profits among themselves.…Write the word or group of words that identify each of the following statements. 1.The word added to the name of the partnership to inform the public that it is a limited partnership. 2. A partner whose liability is only up to his personal contribution into the partnership.Which of the following instances does not dissolve the partnership? Group of answer choices a. Admission of Mr. X in the ANC Partnership. b. Assignment of partners’ interest to another partner. c. Insanity of a partner in the partnership. d. Investment of a new partner in the partnership.
- Write the word or group of words that identify each of the following statements. 1.The word added to the name of the partnership to inform the public that it is a limited partnership. 2.Apartner whose liability is only up to his personal contribution into the partnership.S1: In a partnership, at least one partner is required to be a/an limited partner in order to ensure partnership creditors will be paid and protected S2: Unpaid liabilities should be included in computing for the total loss attributed to the partners. * A. Both statements are true B. s1 True; S2 False C. S2 True; S1 False D. Both statements are false S1: Joint Control is present if tow ore more parties have greater than 50% Control.S2: One Party has more than 50% in a joint arrangement * A. Both statements are false B. Both statements are true C. S2 True; S1 False D. s1 True; S2 False S1: If the total contributed capital of THE partnership is greater than the total agreed capital, it is possible that a goodwill be recognized or an undervaluation of asset occurred.S2: Noncash assets sold by the partnership will prioritize payment of Creditors * A. Both statements are false B. s1 True; S2 False C. Both statements are true D. S2 True; S1 FalseWrite the word or group of words that identify each of the following statements. 1.Any partner can act in behalf of the partnership as long as these acts are within the scope of normal partnership activity. 2. A partnership which failed to comply with one or more of the legal requirements for its establishment. 3.An entry prepared when industry is contributed into the partnership. 4. A partnership organized for the purpose of rendering service. 5. A contract whereby two or more persons bind themselves to contribute money, property, or industry to a common fund with the intention of dividing profits among themselves. 6. The basis for recording a partner's contribution in the form of noncash assets 7. One who is both a silent and a scret partner. 8. The partnership contract in writing which governs the formation, operation, and dissolution of the…
- 55.In the law on partnership, is the rule absolute where persons who are not partners as to each other are not partners as to third persons? * A. Yes. The rule is absolute because the laws on partnership specifically states that pursuant to the Doctrine of Delectus Personae, each partners forming a partnership has the right to choose who will they associate with. B. No. The rule is not absolute because the laws on partnership states an exception, to wit: partnership by estoppel, where a partnership is not duly organized has been recognized as such in its dealings with certain persons, it shall be considered as partnership by estoppel and the persons dealing with it are estopped from denying its partnership existence.Which of the following instances does not dissolve the partnership? Group of answer choices Admission of Mr. X in the ANC Partnership. Insanity of a partner in the partnership. Assignment of partners’ interest to another partner. Investment of a new partner in the partnership.In relation to the formation of a partnership, select the correct statement: Group of answer choices: 1 A partnership is property created once a partnership agreement is signed. 2 A partnership can exist without the members being aware that they are in fact in a partnership relationship. 3 A partnership can be created for a non-profitable purpose. 4 To come into existence, a partnership must be registered under the Partnership Law Act 2019.