Accounting Multiple Choice Question – 12 April 2020

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

The minimum number of general partners which a limited partnership must have is?

Select ONE answer:

  1. 1
  2. 2
  3. 3
  4. 7

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 1

  1. Correct – Someone must always be responsible for the debts of the firm. This is a major disadvantage of partnerships relative to companies. However, once one person accepts this responsibility, all other partners can be limited partners.
  2. Not correct
  3. Not correct
  4. Not correct

 

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