Multiple Choice
The principle whereby each partner is responsible for the business actions of all other partners when the actions are carried out in the normal course of business is known as:
A) unlimited liability.
B) mutual agency.
C) perpetual life.
D) the rule in Garner versus Murray.
Correct Answer:

Verified
Correct Answer:
Verified
Q50: A sole trader cannot legally operate which
Q51: The factor that would not normally be
Q52: Information which by its omission, misstatement or
Q53: The assumption that means accountants ignore inflation
Q54: A company needs $1,500,000 for expansion. The
Q56: A share issue where the company gives
Q57: GAAP, in an accounting context, stands for:<br>A)
Q58: The structure that would generally have the
Q59: The main government regulator of companies in
Q60: In 2007 New Zealand adopted which set