Which of the following is true in relation to a partnership? a. A partnership is a separate legal entity b.A partnership is jointly owned and managed by the partners C. A partnership can raised capital by issuing shares to the members of the public d. A partnership is able to own property and other assets in its own name

Which of the following is true in relation to a partnership? a. A partnership is a separate legal entity b.A partnership is jointly owned and managed by the partners C. A partnership can raised capital by issuing shares to the members of the public d. A partnership is able to own property and other assets in its own name

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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Question

Which of the following is true in relation to a partnership?
a. A partnership is a separate legal entity
Ob. A partnership is jointly owned and managed by the partners
C. A partnership can raised capital by issuing shares to the members of the publie
d. A partnership is able to own property and other assets in its own name

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