QUIZ NO.

1 (Modules 1 and 2)
Kabuuang puntos38/100
 
Please read carefully before answering. Good luck!

Email address *

junvyabordo22@gmail.com

 
In general, sharing of net profits is a prima facie evidence that one is a partner.
2/2

True
 
False

 
A married woman, of legal age, can contribute conjugal property to a partnership
without the consent of her husband.
2/2

True
False
 
 
In general, Partnership entails
0/2

(A) Limited Liability

 
(B) Unlimited Liability
(C) No Liability at all
(D) Both (A) and (C)

Tamang sagot
(B) Unlimited Liability

 
According to the Civil Code, what is true about a “Partnership”? *
2/2

(A) It is a contract.
 
(B) Limited to two partners only
(C) Always in written form
(D) Sharing of profits only.

 
Death dissolves a partnership.
2/2

True
 
False

 
Sharing of gross returns establishes a partnership.
2/2

True
False
 
 
Only lawful objects are allowed in a partnership.
0/2

True
False
 
Tamang sagot
True

 
Co-ownership is evidence of a partnership agreement.
2/2

True
False
 
 
Which of the following statement/s is/are true?
0/2

(A) In a partnership, there is a collective enjoyment and is not necessarily for profit.
(B) In a partnership, there is a sharing of net profit.
(C) In a partnership, there is a sharing of gross returns.
(D) Both (A) and (B)
 
(E) Both (B) and (C)

Tamang sagot
(B) In a partnership, there is a sharing of net profit.

 
Partners may contribute monies that are demonetized by the Central Bank.
2/2

True
False
 
 
Facts: Sebastian, to carry on a business, borrowed money from Amara. It was agreed
upon that Sebastian would return the money in installments and that said installments
would come from Sebastian's profits in the business. Is a partnership created between
Sebastian and Amara? Why or why not?
···/50

No, creditors are not partners, for their only interest in the sharing of profits is the receipt or
payment of their credits, in a partnership, the partners are supposed to trust and have confidence
in all the partners

 
Which of the following statement/s is/are correct?
2/2

(A) A partnership has a legal or juridical personality.

(B) Co-ownership has no juridical personality.
(C) A partner may also be called a co-owner.
(D) Both (A) and (B)
 
(E) Both (B) and (C)

 
Which of the following statement/s is/are correct?
2/2
A) All persons may enter into a contract of partnership.
(B) All persons who are capacitated to give their consent may enter into a contract of partnership.
 
(C) A minor may enter into a contract of partnership.
(D) Both (A) and (C)
(E) Both (A) and (B)
(F) Both (B) and (C)

 
Which of the following statement/s is/are true?
0/2

(A) A partnership is limited for ten (10) years.

(B) A partnership is limited and exists only during the lifetime of the partners.
 
(C) A partnership has no term limit set by law.
(D) Both (A) and (B)

Tamang sagot
(C) A partnership has no term limit set by law.

 
A minor with the consent and assistance of his/her parent can enter into a contract of
partnership.
2/2

True
 
False

 
A contract of partnership can be signed between *
2/2

(A) Individuals
(B) Legal Entities
(C) Both (A) and (B)
 
(D) None of these

 
Partners are required to contribute money only.
2/2

True
False
 
 
A partner acts as agent for the partnership whom he represents.
2/2

True
 
False

 
A partnership can form another partnership.
2/2

Yes
 
No

 
A partnership can acquire property of all kinds in its name.
2/2

True
 
False

 
Which of the following statement/s is/are correct?
2/2

(A) A partnership is consensual and bilateral.

(B) A partnership is a subsidiary contract of the partners only.
(C) A partnership is onerous and may give rise to loses for the partners.
(D) Both (A) and (C)
 
(E) Both (A) and (B)
(F) Both (B) and (C)

 
Which of the following statement/s is/are accurate?
0/2

(A) A partnership is created by contract.

 
(B) A partnership is created by contract, law and other sources.
(C) Co-ownership is created by contract, law and other sources.
(D) Both (A) and (C)
(E) Both (B) and (C)

Tamang sagot
(D) Both (A) and (C)

 
In general, a person capacitated to enter into contractual relations may become a
partner.
2/2

True
 
False

 
Deaf-mutes who do not know how to write cannot enter into a contract of partnership.
2/2

True
 
False

 
Even if a partnership contract is not registered with the Securities and Exchange
Commission, the partnership still has a separate juridical personality.
2/2

True
 
False

 
Which of the following statement/s is/are correct?
0/2

(A) A partnership may join a corporation as a shareholder.

(B) A corporation has power to enter into a contract of partnership.
(C) A partnership may enter into another partnership.
 
(D) Both (A) and (C)
(E) Both (A) and (B)
(F) Both (B) and (C)

Tamang sagot
(D) Both (A) and (C)
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