1.

A contract where two or more persons bing themselves / Partnership

2. One of the following is not a characteristic of contract / Real

3. One of the following is not a requisite of a contract of partnership / The Articles are kept

4. The minimum capital in money or property except when immovable property / 3,000

5. If the partnership has the minimum capital mentioned / still acquires

6. entered into a universal partnership of all present property. At the time of their

agreement / Vacant Land

7. entered into a universal partnership of profits. At the time of the execution of the articles

of partnership / Salary of 500,000

8. A partnership formed for the exercise of a profession / Particular Partnership

9. Three of the following partnership contracts are void / A Particular Partnership

10. re partners in JAW Enterprises. Not Having established yet their credit standing,

the three partners requested / Partner by Estoppel

11. Enterprises was unable to pay the loan on due date at which time the assets of the

partnership amounted / For it’s assets of 7,500

12. partners in TOPS Company Limited, a trading company, have contributions of

P50,000.00 each / for its assets of 150,000

13. Which of the following. losses will not cause the dissolution of partnership / Loss of a

specific thing after

14. are partners in GEM Company with contributions of P10,000.00, P40,000.00and

P50,000.00,respectively / Gregory 2,00,000

15. Which of the following stipulations is valid / Industrial Partner

16. A partner can engage in business for himself without the consent of his co-partners / a

capitalist partner and the kind

17. Which of the following statements is false when no one among the partners was

appointed as manager / Any one may be able

18. The following statements pertain either to a partner appointed as manager in the articles

of partnership / I and III articles of partnership

19. are partners in CUTE Company each one contributing P300,000.00 except for

Encantowho is an industrial partner / From partnership assets 75,000

20. The partnership will bear the risk of the loss of three of the following things / Things

contributed so that only

21. A partner's interest in the partnership is his share of the profits and surplus / Right to

receive the profits

22. indebted for P5,000.00 to MACE Trading Company, apartnership managed by Mendoza

/ To both the partnership

23. In three of the following wrongful acts of partners,the partnership is solidarily liable / For

the loss or injury caused to a third personal purpose

24. are partners in BIGAS Company which is engaged in the buying and selling ofrice /

Gregorio buying a van

25. Assuming that no fraud is committed by or consented to by the partner concerned / not

acting on the particular matter

26. Which of the following statements is incorrect / are preferred as to each partner’s

separate assets

27. The change in the relation of the partners caused by any ceasing to be associated in the

carrying / Dissolution of the

28. A decree by the court is necessary to dissolve a general partnership based on three of

the following grounds / A partner is civilly interdirected

29. Three of the following will cause the automatic dissolution of a general partnership/ A

partner becomes in any way incapable

30. When is the partnership not bound by the act/s of a partner after dissolution / New

Transactions where the third person is a new

31. The partnership is not bound in three of the following acts of a partner after dissolution. /

When the partner has no authority (short)

32. What is the order of payment of liabilities of a dissolved general partnership using the

code number / II I IV III

33. n a limited partnership where there are 4 partners / it is enough

34. A limited partner may contribute / Money and or property

35. A. limited partner shall be liable as general partner in three of the following cases. Which

one is the exception? / When his surname which appears in the

36. Which of the following omissions will make a partnership formed as a limited partnership

liable as a general partnership / I II and III

37. A person admitted to all the rights of a limited partner who has died / substituted limited

partner

38. If the assignee does not become the partner referred to in the preceding number / the

inspection

39. What is the order of payment of liabilities of a dissolved limited partnership using the

code number / II, III, IV, I, VI, V

40. Which of the following will not cause the automatic dissolution of a limited partnership /

Death of a Limited partner

41. One of the distinctions between a partnership and a corporation is that a partnership /

May exist for an indefinite

42. Enterprises, a pet shop, with Belinda contributing P50,000.00; Ara, P20,000.00 /

Klaudia may engage

43. Company, Ltd. Josephine, Ellen and Wilma are general partners, Edith is a

general-limited partner, / Edith may not be held.

44. Which of the following will not cause the automatic dissolution of a general / Insanity
45. Wilma, Olga and Wynona agreed to form a limited partnership with Wilma and Olga as

general partners contributing P50,000.00 each / The partnership will be considered.

46. Fernando, Filoteo, Fortunato and Fulgencio are partners in the firm F4 Enterprises which

is engaged in the trading of fertilizers. Fernando contributed P50,000.00 / Filoteo may be

validly exempted

47. Enterprises, a dealer in cosmetics and other beauty products, with contributions of

P60,000.00, P50,000.00, P40,000.00, P30,000.00, P20,000.00, and P10,000.00, / all the

partners are agents

48. Which of the following will nvt cause the automatic dissolution of a genera / Insanity

49. a partnership engaged in the business of renting out video films, is owned by Patricia,

Alice, Tina, Olga, and Kaye, with Kaye as the manager. Diana owes PATOK Enterprises

P6,000.00 and Olga, P4,000.00./ Applied to Olga’s account

50. FAST Motorparts Company, a dealer of car spare parts Federico, Alberto and Sofronio

invested P500.000 00, P200,000.00 and P300,000.00, respectively. / Fredrico None

51. The partners are the sons of John Solandawho has retired from business but who

suggested that they include his name in the firm to give them an advantage since he is

well-known in the business community. / I is True II is False

52. The following partnership contracts were presented to you for evaluation:/ Each

partnership has a separate

53. GREAT Company, a partnership engaged in the distribution. Ofgenerators, is composed

of George, Roland, Edmond, Albertand Troy. George is the managing partner. During

the month ofApril, the following transactions were - entered into by the following partners

on behalf of the partnership. without any authority:/ Transaction I only

54. Company is a partnership 100,000 60,000 / all the partners

55. 50 gallons of paint Super Enterprise / Super is liable to Masterpaint only

56. Triumph Company, a partnership engaged in the buying and selling of car spare parts,

has for its partners / The group of Tomas, Ignacio, Urbanio, and Marcos.

57. Assuming that when the voting block / The group of Ramon, Pablo

58. Assume the same facts / The group of Tomas, Ignacio and Urbano will prevail

59. Supposing that when / The group of Ramon and Marcos will prevail

60. Dear Company with Donna as a manager, Tricia owes Dear 5,500 / The Payment of

4,500 will be applied

61. Which of the statement concerning the name of a partnership is false / The Partnership

cannot adopt a name

62. Ornussa, the owner of a vacant lot, leased the same to Florida under an agreement that

the rental shall be paid by Florida at the rate of 10% / The relationship of Ornussa

63. is composed of partners Larredo, Ingles, Filler and Encanto. One day, Larredo

was driving the firm's delivery truck beyond the speed limit in order to serve its

customers,\ Life Company and the four partners are solidarily

64. A person admitted as a partner into an existing partnership shall be liable up to the

extent of his separate assets, for what obligations / Obligations of the partnership

incurred before his admission if there was a stipulation

65. PARAGON Enterprises, a partnership engaged in the garments manufacturing

business, is composed of partners Pacis, Ramas and Gonzales. During the year,

PARAGON bought a computerized embroidering machine amounting to P300,000.00

from Tadena with the following stipulation: down payment of P50,000.00 / Tadena

is not a partner

66. MAGIC Company is a partnership composed of Martha, Agnes, Glenda, Irene and

Candice, with Martha as manager who is authorized to collect the credits of the

partnership. Theresa owes Martha P4,000.00 which is due on December 10. /

applied entirely to Marha’s credit

67. Aseron, the managing partner of ACE Company, was driving the delivery truck of the

firm when he rammed it into an electric post resulting in damages to the vehicle

amounting to P50,000.00. / Aseron will still be liable to the firm

68. Trevor owes P3,000.00 to CHAMP Company, a partnership composed of Charles,

Harry, Albert, Mark and Prince, with Mark as the manager who is authorized to

collect all credits of the firm. He also owes Charles the amount of.P6,000.00. /

Payment will be applied in its entirety to Charles' credit.

69. Barranda wrote Salvador a letter wherein he placed an order for a laptop computer

worth P80,000.00. /Baranda and bermudez since they are partners

70. Daong and Depante have been partners for more than 5 years in the purified water

business / Daong and Depante continue to be partners

71. Pateros Poultry Farms 3 people have been appointed as managers of the firm /

Palacious and Atienza may decide by themselves

72. Querubin, Roces and Solis are partners in a law firm. Querubin was appointed as judge

of the Regional Trial Court. Such appointment: / results in the dissolution of the

partnership

73. Braganza, Ortiz and Nevado want to form a partnership with Braganza contributing

P500,000.00; Ortiz, office equipment; and Nevado, his services. If the three were to form

a limited partnership, / Either Braganza or Ortiz or both of them.

74. Refer,to the preceding number. Assume that the three decide to form a general

partnership: Only Nevado may be appointed as manager because he only contributes

his services.

75. Contract 1 - Voting for approval / Contract II Only

76. MACK's Restaurant is a partnership composed of Manalo, Alferez, Cancio and Kilayco,

with Manalo as the manager whose contribution is 80% of the firm's capital Manalo
 made Ongpauco / No, because the other partners must give their consent in order that

Ongpauco may be admitted to the partnership

77. A partner is a co-owner with his partners of specific partnership property. Such

co-ownership / allows a partners to use such property for partnership purposes

78. CLEAN Laundry Services. Company is a partnership composed of Carpio, Legaspi,

Encinas, Alzate and Noval. Without the knowledge of the other partners, Carpio

used a coat brought to the shop by a customer for dry-cleaning in a party he

attended / CLEAN Laundry Services Company and all the partners solidarily.

79. A limited partner is prohibited on account of his claim against the partnership from

performing the following acts, except: / Transact business with the partnership.

80. Lazarte, a limited partner in Bellevue Company, Ltd., received the amount of

P100,000.00 representing his contribution which was being returned on the date

stipulated in the certificate. Partnership records, / Lazarte is bound to bring back to

the partnership the amount of P100,000.00 plus interest,- thereon.