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O-LevelAccountingThe fundamentals of accounting7707/11 · May/June 2012 · Q231 Mark

Two traders are considering forming a partnership. Which statement is not correct?

ABoth partners may have limited liability.
BBoth partners may take an active part.
CPartners may share their experience.
DPartners may share their knowledge.

✓ Correct answer

A: Both partners may have limited liability.

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About this question

Topic
The fundamentals of accounting, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source
O-Level Accounting, May/June 2012 Paper 1 Variant 1, question 23.

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