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Rosemary and Thyme formed a Partnership back in 2 0 1 0 . They have made no Drawings from their business in either Cash or
Rosemary and Thyme formed a Partnership back in They have made no Drawings from their business in either Cash or Inventory. During the current year they have not contributed any additional Capital in either Cash or Land & Buildings. For the Partnership to have made a Net Profit for the year, the following must have occurred :
a
The total assets of the Partnership increased during the period
b
The total assets of the Partnership were greater than the total liabilities of the Partnership
c
The net assets of the Partnership increased during the period
d
The total liabilities of the Partnership decreased during the period
e
The total assets of the Partnership are greater than the total equity of the Partnership
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