1. Which of the following is directly debited to the capital account of a partner?

a. Permanent withdrawal of capital

b. Temporary withdrawal of assets by the partner in anticipation of partnership net income

2.The primary reason why an Article of Partnership should not be kept secret among the partners is the principle of

a. Lawful Agreement

b. Voluntary Agreement

c. Mutual Agency

d. Mutual Trust and Fidelity

3.The computation of the partner's share in the profits and losses becomes more complex because of

a. difference in the capital contribution of the partners

b. time spent on partnership

c. abilities and talents of the partners

d. all

4.The capital balance of the partners would be

a. Initial investments

b. Share in profit

c. Additional investments

d. All

5.A partner will not bind the partnership when the

a. partner who made the purchase dies after purchasing

b. partner was not authorized by the other partners to make the purchase.

c. the item purchased is considered immaterial in amount.

d. item purchased is not within the normal scope of the business.