Grade 12 Accounting Questions about partnership:

Q1: You and your best friend have decided to start up a catering company, using a partnership ownership model. List five things you would want in the partnership agreement and why.

Q2: In a partnership, each partner is responsible for, and must assume the consequences of, the actions of the other partner(s). Explain in you own words how the quote from Luke (below) might help guide a partner when dealing with an unwise decision of another partner.

Be merciful, just as your Father is merciful.

Do not judge, and you will not be judged; do not condemn, and you will not be condemned. Forgive, and you will be forgiven; give, and it will be given to you. A good measure, pressed down, shaken together, running over, will be put into your lap; for the measure you give will be the measure you get back.

(Luke 6: 36-38)

Q3: From the list of advantages and disadvantages, pick the two from each list you think are the most important, and explain why.

Thanks for reveiwing my questions! Please don't copy anything from the exsited material online! Also plz explain for the reason about what you write!