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I. Matching Type. a. Sole Proprietorship b. Articles of Co-Partnership c. Partnership d. Unlimited Liability e. Corporation f. General Partners g. Co-Ownership of Property h.
I. Matching Type. a. Sole Proprietorship b. Articles of Co-Partnership c. Partnership d. Unlimited Liability e. Corporation f. General Partners g. Co-Ownership of Property h. Limited Life i. General Co-Partnership j. Limited Partnership k. Mutual Agency I. Social Security System. m. Securities and Exchange Commission n. Co-Ownership of Profits o. Industrial Partner p. Capitalist Partner 1. A partnership characteristic which states that properties in vested in a partnership by a partner ceases to be his own property. 2. A partner may act on behalf of all partners. 3. A partnership agreement that specifies the division of profits and losses, and provisions for admission and withdrawal of partners. 4. A partnership characteristic that best describe that each general partner is personally liable for partnership debt. 5. A partner who contributes his intellectual capacity to generate more profits for the firm. 6. An association of two or more persons as co-owners of the business firm. 7. Type of partnership where the law provides that at least one member of the partnership shall be a general partner. 8. A partner who contributes money or property to the partnership. 9. A business enterprise owned by only one person. 10. The government agency where the partnership contract is registered. II. Maria Dolores decided to form a partnership with Martin Campos. Maria Dolores contributed P200,000 cash and Martin Campos contributed the assets from the business he has operated for the past year. His ledger accounts appear below: Accounting 2 - Partnership and Corporation Accounting 29 The partners agreed that the non-cash assets of Martin Campos be revalued as follows: Instructions: Record the investment of the partners
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