Things that can be contributed to a partnership business
A common and basic form of capital contribution in a partnership business.
Cash
It is formed through the mutual agreement of all the partners.
Based on contract
An individual must contribute capital to become a partner in a business? True or False
Once properties are contributed by a partner, they ____________ his own property.
It is a type of tax that governments impose on income generated by businesses and individuals within their jurisdiction.
Income Tax
A partnership whose capital is 3,000 pesos and above should be registered in the office of ___________
Securities and Exchange Commission.
It is a form of contribution that isn't tied to cash or property and is usually compensated through a pre-determined share in the business’ profits.
Management Expertise
_____ means that the shareholder or partner assumes all liability for the company’s success
Unlimited liability
This is the person in the partnership who contributes industry, labor, skill or service in the firm
Industrial Partners
This is a partner who does not take active part in the business and is known to the public as a partner.