Write 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.
Write 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 partnership.
9.Partner who has financial interest in the firm, not known to be a partner, but takes active part in the management of the firm.
10.The government body which is in charge with administering the various laws affecting partnerships and corporations in the Philippines.
11. The word added to the name of the partnership to inform the public that it is a limited partnership.
12. A partner whose liability is only up to his personal contribution into the partnership.
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