Day: April 10, 2020

Accounting Multiple Choice Question – 10 April 2020

The home of multiple choice questions for all your KS3, KS4 and KS5 Business Studies, Economics and Accounting requirements.

A partnership . . .?

Select ONE answer:

  1. must be formed by deed.
  2. must be formed by agreement in writing.
  3. may be formed by verbal agreement.
  4. None of the above.

 

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

  1. Not correct
  2. Not correct
  3. Correct – All that’s required to form a partnership is for two or more people to agree to become business partners. They do not have to agree anything else. However. in order to avoid disputes and ill- feeling later on, it is preferable that they agree all relevant matters and record these in some kind of formal written agreement.
  4. Not correct

 

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