explanation please
Multiple choice: Encircle the best answer. Computation is necessary. 1. Penetrante owns and operates a large hardware store in Cobanatuon City that employs about forty -five personnel. She delegates some of the decision making to two supervisors. Penetrante's business is organized as a Q Corporation b. Partnership Sole proprietorship d. Limited partnership 2. Jumawan loves to cook. She receives unqualified praise whenever she prepares a meal for someone. Encouraged by these compliments and eager to put her culinary talents to good use. Jumawan decides to open a boutique restaurant in Dumaguete City. Since she plans to maintain complete control of the business, she will most Likely organize it as a a Limited partnership b. corporation C. general partnership d. sole proprietorship 3. Unlimited Liability means a there is no Limit on the amount on owner con borrow. b. Creditors will absorb any Loss from nonpayment of debt. c. The business can borrow money for any type of purchase. The owner is responsible for all business debts. 4. The person who assumes full co-ownership of a partnership including unlimited Liability is a a sole proprietor b. shareholder C. Limited partner d. general partner 5. The partner who can Lose only what he has invested in a business is the general partner b. sole proprietor c. Limited partner d. corporators 6. Cabanse, a partner in the Cabanse and Mendoza Partnership has a 30% share in the partnership profit and Loss. His capital account had a net decrease of P60,000 in 2019. In 2019, he withdrew P130.000 against his capital and invested property valued at P25,000 in the partnership. The profit of the partnership is P550,000 b. P350,000 c. P233,333 P150,000 7. Antiporda and Sy are partners who share profits and Losses after salary and interest allowances in the ratio of 60:40, respectively. Antiporda's salary is P20.000 and Sy's is P10.000. The partners are also paid interest on their average capital balances. In 2019, Antiporda received P10.000, in interest and Sy P4.000. If Sy's share of partnership profit was P40.000 in 2019. what was the total partnership profit? Q P 95,000 b. P100.000 C. P109,000 d. P144.000 8. If a partnership has profit of P44.000 and Partners Garcesa is to be allocated a bonus of 10% of profit after the bonus, Garcesa's bonus would be Q P4.400 b. P3,600 P4,000 d. P4.500 9. The Marasigan and Rosales partnership agreement provides special compensation to the managing partner, Marasigon; Marasigon receives a bonus of 15% of profit before salary and bonus; and also receives a salary of P45,000. Any remaining profit or Loss is to be allocated equally. During 2019, the partnership had profit of P50.000 before the bonus and salary allowances. As a result of these distributions, Rosales equity in the partnership would Q. Increase b. Decrease c. Decrease the same as Marasigan's
