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The MCQ: An association of 2 or more persons to carry on a business for the purpose of earning profit is known as; "Business Partnership" App Download (Free) with answers: Partnership; Legal entity; Insurance; to study online high school courses. Solve Business Mathematics Quiz Questions, download Google eBook (Free Sample) for online school classes.

MCQ 1:

Sara and Ali earned a profit of \$500, 000 from a business and their ratio of investment was 5 : 8 respectively. The profit of each should be

1. \$200,000 and \$300,000
2. \$150,000 and \$350,000
3. \$450,000 and \$50,000
4. \$192,308 and \$307,692
MCQ 2:

An association of 2 or more persons to carry on a business for the purpose of earning profit is known as

1. partnership
2. legal entity
3. insurance
4. none of above
MCQ 3:

If the capital of partners are invested for the same length of time, the partnership is said to be

1. joint venture
2. simple partnership
3. Complex partnership
4. none of above
MCQ 4:

John and Peter purchased Computer with an investment of \$16, 000 and \$20, 000 respectively. They earned a profit of \$5000. The share of each should be

1. \$2,222 and \$2,778
2. \$2,000 and \$3,000
3. \$1,800 and \$3,200
4. \$2,500 and \$2,500
MCQ 5:

If the capital of partners are invested for the different length of times, whether equal or unequal, the partnership is said to be

1. joint venture
2. simple partnership
3. Complex partnership
4. none of above