A. It has a perpetual life
B. It will be dissolved if one of the partners ceases to be connected with the partnership
C. It can be handed down from one generation of partners to another
D. Its capitalization must be equal for each partner
Related Mcqs:
- Which is true about corporation ?
A. It is worse type of business organization.
B. The minimum number of incorporators to start a corporation is three.
C. Its life is dependent on the lives of the incorporators.
D. The stock holders of the corporation are only liable to the extent of their investments. - The true value of interest rate computed by equations for compound interest for a 1 year period is known as __________________?
A. Expected return
B. Nominal interest
C. Effective interest
D. Economic return - True one-dimensional flow occurs when___________________?
A. the direction and magnitude of the veiocity at all points are identical
B. the velocity of successive fluid par-ticles, at any point, is the same at suc-cessive periods of time
C. the magnitude and direction of the velocity do not change from point to point in the fluid
D. the fluid particles move in plane or parallel planes and the streamline pat-terns are identical in each plane
E. velocity, depth, pressure etc. change from point to point in the fluid flow - What is an accounting term that represents an inventory account adjustment ?
A. Cost of goods sold
B. Cost accounting
C. Standard cost
D. Overhead cost - Aggregation of individuals formed for the purpose of conducting a business and recognized by law as a fictitious person is called ________________________?
A. Partnership
B. Investors
C. Corporation
D. Stockholders - Cash money and credit necessary to establish and operate an enterprise are generally called _____________________?
A. Capital
B. Funds
C. Assets
D. Liabilities - What is another term for “current assets” ?
A. Fixed assets
B. Non-liquid assets
C. Liquid assets
D. Ccash - What is used when a quick estimate of the doubling time for the invested money is needed ?
A. Rule of 48
B. Rule of 36
C. Rule of 24
D. Rule of 72 - Gross margin is the ratio of the gross profit to _________________?
A. Net sale
B. Owner’s equity
C. Inventory turnover
D. Quick assets - The ability to convert assets to cash quickly is known as ________________?
A. Solvency
B. Liquidity
C. Leverage
D. Insolvency
