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O-LevelAccountingThe fundamentals of accounting7707/12 · May/June 2021 · Q251 Mark

What is an advantage of forming a partnership?

ADecisions have to be recognised by all partners.
BEach partner is responsible for actions of other partners.
CProfits have to be shared among the partners.
DResponsibilities can be shared between the partners.

✓ Correct answer

A: Decisions have to be recognised by all partners.

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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 2021 Paper 1 Variant 2, question 25.

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