Podcast
Questions and Answers
What is the main purpose of the Articles of Co-Partnership?
What is the main purpose of the Articles of Co-Partnership?
- To determine the taxation policies of the partnership
- To establish the partnership's marketing strategies
- To outline the partnership's organizational structure (correct)
- To specify the day-to-day operations of the partnership
Which type of business organization is characterized by being owned and managed by only one person?
Which type of business organization is characterized by being owned and managed by only one person?
- Partnership
- Cooperative
- Sole proprietorship (correct)
- Corporation
In a partnership, the persons involved are known as what?
In a partnership, the persons involved are known as what?
- Stockholders
- Partners (correct)
- CEOs
- Directors
What distinguishes a corporation from other types of business organizations?
What distinguishes a corporation from other types of business organizations?
Which type of business organization is based on joint ownership and democratic control for the benefit of its members?
Which type of business organization is based on joint ownership and democratic control for the benefit of its members?
In which type of business organization do individuals put capital in and become stockholders?
In which type of business organization do individuals put capital in and become stockholders?
Which characteristic of a partnership states that a partnership may be dissolved at any time by action of the partners or by operation of law?
Which characteristic of a partnership states that a partnership may be dissolved at any time by action of the partners or by operation of law?
What is the income tax rate for partnerships starting from the fiscal year 2021?
What is the income tax rate for partnerships starting from the fiscal year 2021?
Which characteristic of a partnership ensures that properties contributed to the partnership are owned collectively by the partnership and not by individual partners?
Which characteristic of a partnership ensures that properties contributed to the partnership are owned collectively by the partnership and not by individual partners?
What is the minimum capital required for a written agreement in a partnership?
What is the minimum capital required for a written agreement in a partnership?
Which partner in a general partnership may be held personally liable for the debts of the partnership?
Which partner in a general partnership may be held personally liable for the debts of the partnership?
Under what circumstances may a partnership be dissolved?
Under what circumstances may a partnership be dissolved?
