Accounting Quiz or Test Your Accounting Knowledge On Partnership Accounts

October 29th, 2010 Comments off
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Refresh or test your accounting knowledge on Partnership Accounts :

QUESTIONS:1.0  What is “ joint an several liability?

2.0  Describe two ways in which the accounts of a partnership differ from those of a sole trader

3.0  What are the differences between a partner’s current account ad his capital account?

4.0  Interest paid on loans made by partners to the business is an appropriation of profit. True or false?


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