I.

1.) C
2.) B
3.) B
4.) C
5.) B
6.) A
7.) C
8.) B
9.) B
10.) C
11.) C
12.) A
13.) C
14.) A
15.) A

II.
1. D. Building, P900,000 and Helen, Capital, P600,000
2. C. Debit to Equipment for P39,000
3. C. 420,000
4. B. P270,000
5. D. P130,000
6. B. 270,000
7. A. 130,000
8. B. 10,000 income
9. C. 160,000
10. B. 160,000

III. Essay – Judgment nalang din po natin sa points

1.) Written is more advantageous, for

• For legal purposes, easier proof
• Reference/guide to operations
• Settlement of partner conflicts

2.) Disadvantage to owner as all his properties can be seized by the creditor
Advantage to creditor as he can go after personal properties, so more collections on his end