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Long Quiz 1These are powers which are necessary to exercise the express powers and to accomplish or
Committee is the number of directors or trustees sufficient to transact business.False
Tijane and Marj formed a partnership named TM Enterprises. They have capitalcontributions of Php50,000.00 and Php130,000 respectively. They have agreed that profitsand losses shall be divided with a ratio of 1:2. If Tijane's share in net profits is Php20,000.00,how much is the total net profit?
This is a partnership whose existence may be terminated at any time by the partners
One of the distinctions between an partnership and a corporation is that a partnership
John, Albert and Wilfred are partners in JAW Enterprises. Not having established yet theircredit standing, the three partners requested Simon, a well-known businessman, to helpthem negotiate a loan from Carlos, amoney lender. With the consent of John,. Albert andWilfred, Simon represented himself as a partner of JAW Enterprise. Thereafter, Carlosgranted a loan of Php 350,000.00 to JAW Enterprise. What kind of partner is Simon?

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Term
Winter
Professor
Goodfaith
Tags
Corporation, Types of business entity, partner

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