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Bundle for PACOA (PRELIM)
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PACOA (PRELIM) questions with correct answers
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A partnership a. Is created by agreement of the partners. b. Has a juridical personality distinct and separate from that of each of the partners. c. May be constituted in any form, except where immovable property is contributed, in which case the law requires that a public instrument be execute...
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Add to cartA partnership a. Is created by agreement of the partners. b. Has a juridical personality distinct and separate from that of each of the partners. c. May be constituted in any form, except where immovable property is contributed, in which case the law requires that a public instrument be execute...
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PRELIM EXAM questions with correct answers
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Leo formed a partnership with Noy and invested the following assets and liabilities of his grocery store: Cash, P50,000; Merchandise, cost P30,000 and fair value P20,000; Store Equipment, book value P90,000 and fair value P50,000; Accounts Payable, P20,000; Accrued Expenses, P7,000. The entry to rec...
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Add to cartLeo formed a partnership with Noy and invested the following assets and liabilities of his grocery store: Cash, P50,000; Merchandise, cost P30,000 and fair value P20,000; Store Equipment, book value P90,000 and fair value P50,000; Accounts Payable, P20,000; Accrued Expenses, P7,000. The entry to rec...
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PACOA - Chapter 1: Basic Considerations and Formation questions with correct answers
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Partnership - Ans - two or more persons bind themselves to contribute money, property or industry to a common fund, with the intention of dividing the profit among themselves Civil Code of the Philippines, Article 1767 - Ans - States that "two or more persons may also form a partnership for ...
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Add to cartPartnership - Ans - two or more persons bind themselves to contribute money, property or industry to a common fund, with the intention of dividing the profit among themselves Civil Code of the Philippines, Article 1767 - Ans - States that "two or more persons may also form a partnership for ...
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PACOA - Chapter 2: Partnerships Operations questions with correct answers
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a matter of agreement and MAY NOT necessarily be the same as their capital contribution ratio - Ans - The basis on which profit or losses are shared is: F. SHOULD BE DISTINGUISED - Ans - T/F: The equity of a partner in the net assets of the partnership should not be distinguished from a partn...
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Add to carta matter of agreement and MAY NOT necessarily be the same as their capital contribution ratio - Ans - The basis on which profit or losses are shared is: F. SHOULD BE DISTINGUISED - Ans - T/F: The equity of a partner in the net assets of the partnership should not be distinguished from a partn...
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