11 which class of partner has the authority to make

11. Which class of partner has the authority to make business decisions and even legally bind the company in
contracts?
a. General Partner
b. Limited Partner
c. Industrial Partner
12. Any business run by two or more person, organized as a partnership, except cooperatives and labor unions,
should be registered with what government agency?
13. It is an article that states “By the contract of partnership two or more persons bind themselves to contribute
mo ney, property, or industry to a common fund, with the intention of dividing the profits among themselves.”
Enumerate the four (4) characteristic elements of Partnership
14.
15.
16.
17.
Give the three (3) classification of partnership according to business operations
18.
19.
20.
Give the two (2) classification of partnership according to liability
21.
22.

Classification: Public
List the three (3) classes of partners as to their liability for partnership debts
23.
24.
25.
List the three (3) classes of partners as to their contribution
26.
27.
28.
List two (2) advantages of partnership
29.
30.