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Questions and Answers
In a partnership, if there is no agreement regarding it, how are profits or losses divided among partners?
In a partnership, if there is no agreement regarding it, how are profits or losses divided among partners?
When a partner contributes an asset to a partnership, what does that asset become?
When a partner contributes an asset to a partnership, what does that asset become?
What type of partner has unlimited liability in a partnership?
What type of partner has unlimited liability in a partnership?
For a Limited Partner in a partnership, how far does their liability extend?
For a Limited Partner in a partnership, how far does their liability extend?
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Which type of partner contributes money and/or assets other than cash, building, equipment, or any property?
Which type of partner contributes money and/or assets other than cash, building, equipment, or any property?
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A partner who contributes both cash and knowledge or personal service is known as:
A partner who contributes both cash and knowledge or personal service is known as:
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What is a characteristic of a partnership that involves each partner being an agent of the partnership for business purposes?
What is a characteristic of a partnership that involves each partner being an agent of the partnership for business purposes?
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Which event does not contribute to the limited life of a partnership?
Which event does not contribute to the limited life of a partnership?
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What type of partner is said to have unlimited liability in a partnership?
What type of partner is said to have unlimited liability in a partnership?
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Which characteristic of a partnership involves the co-ownership of contributed assets?
Which characteristic of a partnership involves the co-ownership of contributed assets?
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In a partnership, what is responsible for the business acts of his partners within the scope of the business of the partnership?
In a partnership, what is responsible for the business acts of his partners within the scope of the business of the partnership?
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Which event does not result in limited liability for general and industrial partners in a partnership?
Which event does not result in limited liability for general and industrial partners in a partnership?
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What does the Civil Code of the Philippines define as a partnership?
What does the Civil Code of the Philippines define as a partnership?
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In a partnership, how are profits typically divided?
In a partnership, how are profits typically divided?
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What does 'unlimited liability' refer to in the context of partnership?
What does 'unlimited liability' refer to in the context of partnership?
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What types of partners can a partnership have based on the text?
What types of partners can a partnership have based on the text?
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Why is there a limited term of existence in partnerships?
Why is there a limited term of existence in partnerships?
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What does limited skills, talents, and capabilities refer to as a disadvantage of sole-proprietorship?
What does limited skills, talents, and capabilities refer to as a disadvantage of sole-proprietorship?
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