GSE 202 PAST QUESTION

1. _________ is an integral part of the modern society a. culture b. Norms c. business d. all of the above

2. Among the following which is not a legal entity a. partnership b. sole proprietorship c. company d. only c

3. __________ business cannot be separated from the owner a. joint company b. partnership c. sole proprietorship and partnership d. sole proprietorship

4. Partnership agreement is also called _________ a. agreement b. joint investment c. deed d. contract

5. Profit of a business are shared according to partners ____________ a. payment b. donation c. contribution d. agreement

6. A company is legally formed by meeting the conditions stipulated by _________ a. IFRS b. IAS c. CAMA d. only A and B