Partnership Accounting Quiz

GratifiedUnderstanding avatar
By GratifiedUnderstanding

Quiz

Flashcards

5 Questions

True or false: Partnership business requires a minimum of 3 partners?

True or false: The business carried by a partnership firm must be legal?

True or false: Partnership business can be formed through an oral agreement?

True or false: Partnership business involves sharing of profits among the partners?

True or false: The liability of partners in a partnership business is limited?

Description

Test your knowledge on partnership accounting with this quiz! Learn about the meaning of partnership business, the features of a partnership, and the basics of accounting for partnership firms. Brush up on your understanding of profit and loss sharing, as well as the legal aspects of partnerships.

Make Your Own Quiz

Transform your notes into a shareable quiz, with AI.

Get started for free

More Quizzes Like This