A and B are partners in a partnership known as X & Co. They agreed that they would contribute all their properties to a common fund for the purpose of dividing the same between themselves, as well as the profits to be derived therefrom. A contributed all his properties consisting of two (2) big parcels ofg aricultural land and a tractor. B contributed also his properties consisting of P100,000 cash and farmm iplements. What type of partnership did A and B enter into?
A and B are partners in a partnership known as X & Co. They agreed that they would contribute all their properties to a common fund for the purpose of dividing the same between themselves, as well as the profits to be derived therefrom. A contributed all his properties consisting of two (2) big parcels ofg aricultural land and a tractor. B contributed also his properties consisting of P100,000 cash and farmm iplements. What type of partnership did A and B enter into?
Chapter1: Financial Statements And Business Decisions
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A and B are partners in a partnership known as X & Co. They agreed that they would contribute all their properties to a common fund for the purpose of dividing the same between themselves, as well as the profits to be derived therefrom. A contributed all his properties consisting of two (2) big parcels ofg aricultural land and a tractor. B contributed also his properties consisting of P100,000 cash and farmm iplements. What type of partnership did A and B enter into?
Transcribed Image Text:QUESTIONS:
1. A and B are partners in a partnership known as X & Co. They agreed that they would contribute all their
properties to a common fund for the purpose of dividing the same between themselves, as well as the
profits to be derived therefrom. A contributed all his properties consisting of two (2) big parcels of
agricultural land and a tractor. B contributed also his properties consisting of P100,000 cash and farm
implements. What type of partnership did A and B enter into?
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