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  • Acctg 13 Assignment - Partnership Formation

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    Shei Alqueno
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    This document contains an assignment on partnership formation for an Accountancy Program. It lists 10 questions to be answered on defining partnerships, distinguishing partnerships from corporations, classifying partnerships, forming partnerships through articles of partnership, and registering partnerships with the SEC. The questions cover essential aspects of partnerships like characteristics, advantages/disadvantages, liability, management, and registration requirements.

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    This document contains an assignment on partnership formation for an Accountancy Program. It lists 10 questions to be answered on defining partnerships, distinguishing partnerships from corporations, classifying partnerships, forming partnerships through articles of partnership, and registering partnerships with the SEC. The questions cover essential aspects of partnerships like characteristics, advantages/disadvantages, liability, management, and registration requirements.

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    6 views1 page

    Acctg 13 Assignment - Partnership Formation

    Uploaded by

    Shei Alqueno
    This document contains an assignment on partnership formation for an Accountancy Program. It lists 10 questions to be answered on defining partnerships, distinguishing partnerships from corporations, classifying partnerships, forming partnerships through articles of partnership, and registering partnerships with the SEC. The questions cover essential aspects of partnerships like characteristics, advantages/disadvantages, liability, management, and registration requirements.

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    © All Rights Reserved
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    RAMON MAGSAYSAY MEMORIAL COLLEGES

    Accountancy Program
    Pioneer Avenue, General Santos City

    Acctg 13 – Partnership and Corporation


    Assignment #2 – Partnership Formation

    1. Define Partnership
    2. Discuss the phrase “exercise of a profession”
    3. Enumerate and discuss the essential characteristics of Partnership
    4. What are the advantages and disadvantages of Partnership compared to sole
    proprietorship and corporation?
    5. How Partnership distinguished from Corporation in terms of:
    a. Number of Persons
    b. Commencement of juridical personality
    c. Management
    d. Extent of Liability
    e. Right of Succession
    f. Terms of existence
    6. Enumerate and define the classification of partnerships
    7. Enumerate kinds of partners in a partnership
    8. How to form a partnership?
    9. What is Articles of partnership? What are the contents of a typical partnership
    contract?
    10. What are the steps involved in SEC registration or partnerships?

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