Lisa, Jeni and Jiso entered into acontract of partnership with a totalcontribution of P5,000. The partiesfailed to register its articles of co-partnership with SEC. Which of thefollowing statements is correct?A. The contract of partnership is voidbecause the law provides that when thecapital contribution is at least P3,000 itmust be registered with SEC.B. The contract of partnership will bind thirdpersons.C. The contract of partnership remains tobe valid.D. The partnership business does notobtain juridical personality for failure toregister with SEC.

Partnership refers to the arrangement which is contractual in nature among two or more persons who…

Lisa, Jeni and Jiso entered into a contract of partnership with a total contribution of P5,000. The parties failed to register its articles of co- partnership with SEC. Which of the following statements is correct?

Lisa, Jeni and Jiso entered into a contract of partnership with a total contribution of P5,000. The parties failed to register its articles of co- partnership with SEC. Which of the following statements is correct?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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