Republic of the Philippines
BATANGAS STATE UNIVERSITY
The National Engineering University
Pablo Borbon Campus
Rizal Avenue Ext., Batangas City, Batangas, Philippines 4200
Tel Nos.: (+63 43) 980-0385 loc. 1124
E-mail Address: cabeihm.pb@g.batstate-u.edu.ph | Website Address: http://www.batstate-u.edu.ph
COLLEGE OF ACCOUNTANCY, BUSINESS ECONOMICS AND INTERNATIONAL
HOSPITALITY MANAGEMENT
PARTNERSHIP
OPERATION
BSMA 3106
Group Members:
Africano, Rhina Diane
Calinawan, Jo-rien
De Guzman, Jociel Joyce
Fabiala, Lestine Tricia
Geducos, Hannah
Largado, Hannah
Malacas, Alyssa
Sadili, Yvette Kriztel M.
Leading Innovations, Transforming Lives
Republic of the Philippines
BATANGAS STATE UNIVERSITY
The National Engineering University
Pablo Borbon Campus
Rizal Avenue Ext., Batangas City, Batangas, Philippines 4200
Tel Nos.: (+63 43) 980-0385 loc. 1124
E-mail Address: cabeihm.pb@g.batstate-u.edu.ph | Website Address: http://www.batstate-u.edu.ph
COLLEGE OF ACCOUNTANCY, BUSINESS ECONOMICS AND INTERNATIONAL
HOSPITALITY MANAGEMENT
QUIZ ( PARTNERSHIP OPERATION)
Problem 1: Multiple Choice- Theory
1. Statement 1: A new partner cannot be admitted into a partnership without the consent of all the
partners.
Statement 2: According to their partnership agreement, the partners share in the partnership's
profits and losses.
a. Statement 1 is true and Statement 2 is false.
b. Statement 1 is false and Statement 2 is true.
c. Both statement is false.
d. Both statement is true.
2. He/ She is one who contributes services to the partnership rather than cash or other non-cash
assets.
a. Industrial Partner
b. Capital Partner
c. Capital and Co-partner
d. None of the above
3. A partner who contributes both services and cash or other non-cash assets is both an industrial and
capitalist partner.
a. Industrial Partner
b. Capital Partner
c. Capital and Industrial Partner
d. None of the above
4. A partner is one who contributes cash or other non-cash assets to the partnership.
a. Industrial Partner
b. Capital Partner
c. Capital and Co-Partner
d. None of the above
Leading Innovations, Transforming Lives
Republic of the Philippines
BATANGAS STATE UNIVERSITY
The National Engineering University
Pablo Borbon Campus
Rizal Avenue Ext., Batangas City, Batangas, Philippines 4200
Tel Nos.: (+63 43) 980-0385 loc. 1124
E-mail Address: cabeihm.pb@g.batstate-u.edu.ph | Website Address: http://www.batstate-u.edu.ph
COLLEGE OF ACCOUNTANCY, BUSINESS ECONOMICS AND INTERNATIONAL
HOSPITALITY MANAGEMENT
5. An industrial partner receives a _____in addition to his share in partnership's profits as
compensation for his services to the partnership.
a. Salaries
b. Bonus
c. Interest on Capital Contribution
d. None of the above
6. Unlike the salaries a partner is entitled to a _____ only if the partnership earns profit.
a. Salaries
b. Bonus *
c. Interest on Capital Contribution
d. None of the above
7. Statement 1: When a new partner invests more than the proportionate share he receives in the
partnership, a bonus is recorded to his account. false
Statement 2: There is no impact on the statement of comprehensive income of a partnership
when a partner withdraws from the business.
a. Statement 1 is true and Statement 2 is false.
b. Statement 1 is false and Statement 2 is true.
c. Both statement is false.
d. Both statement is true.
8. How should the partners in a business partnership share in the profits or losses of the
partnership?
a. Equally
b. At whatever basis of allocation that the dominating partner deems reasonable.
c. In accordance with the partnership agreement.
d. Based on "rock, paper, scissors" winner takes all
Leading Innovations, Transforming Lives
Republic of the Philippines
BATANGAS STATE UNIVERSITY
The National Engineering University
Pablo Borbon Campus
Rizal Avenue Ext., Batangas City, Batangas, Philippines 4200
Tel Nos.: (+63 43) 980-0385 loc. 1124
E-mail Address: cabeihm.pb@g.batstate-u.edu.ph | Website Address: http://www.batstate-u.edu.ph
COLLEGE OF ACCOUNTANCY, BUSINESS ECONOMICS AND INTERNATIONAL
HOSPITALITY MANAGEMENT
9. According to the Philippine Civil Code, if only the share of each partner in the profits has been
agreed upon, the share of each in the losses shall be
a. in equal amounts.
b. in equal amounts, but excluding the industrial partner.
c. in proportion to the partners' contributions.
d. the same as the sharing in profits.
10. According to the Philippine Civil Code, in the absence of a stipulation on the sharing of
profits or losses, partnership profits and losses shall be shared by the partners
a. Equally.
b. in accordance with the partnership agreement
c. In proportion to what the partners may have contributed.
d. In proportion to what the partners may have contributed but the part shall not be liable.
11. Mama and Moo partnership agreement stipulates the following:
● Monthly salary of ₱10,000 for Mama.
● 40% bonus to Mama, based on profit before deductions for salary, interest and bonus.
● 20% interest on the weighted average capital of Moo.
The partnership reported profit of ₱50,000, net of salary, interest and bonus.
Moo's weighted average capital balance is ₱200,000.
How much is the bonus of Mama?
a. 140,000
b. 120,000
c. 100,000
d. 200,000
12. The partnership agreement between Tzuyu and Chayeong engages for annual salary allowances of
40,000 for Momo and 40,000 for Mina. Salary allowances are to be withdrawn throughout the period and
deducted from the partners' respective drawing accounts. The partners share profit equally and losses on a
60:40 ratio. The partnership earn profit of ₱70,000 before salary allowances.Compute for the respective
shares of the partners in the profit.
Leading Innovations, Transforming Lives
Republic of the Philippines
BATANGAS STATE UNIVERSITY
The National Engineering University
Pablo Borbon Campus
Rizal Avenue Ext., Batangas City, Batangas, Philippines 4200
Tel Nos.: (+63 43) 980-0385 loc. 1124
E-mail Address: cabeihm.pb@g.batstate-u.edu.ph | Website Address: http://www.batstate-u.edu.ph
COLLEGE OF ACCOUNTANCY, BUSINESS ECONOMICS AND INTERNATIONAL
HOSPITALITY MANAGEMENT
a. 36,000 ; 43,000; 80,000
b. 34,000; 36,000; 70,000
c. 20,000;37,000;45,000
d. 0; 0; 30,000
13. Ibet and Ina formed a partnership on March 1, 2022. The partnership agreement stipulates a 30%
interest on Ina's weighted average capital balance. The movement in Ina's capital account are as follows:
a. 12,250
b. 19,250
c. 15,250
d. 16,250
14. On March 1, 2017, Kang and Daniel formed a partnership. Kang's weighted average capital balance is
subject to a 20% interest rate under the partnership agreement. Kang's capital account movement is as
follows:
a. 12,833
b. 18,233
c. 13,283
d. 13,876
Leading Innovations, Transforming Lives
Republic of the Philippines
BATANGAS STATE UNIVERSITY
The National Engineering University
Pablo Borbon Campus
Rizal Avenue Ext., Batangas City, Batangas, Philippines 4200
Tel Nos.: (+63 43) 980-0385 loc. 1124
E-mail Address: cabeihm.pb@g.batstate-u.edu.ph | Website Address: http://www.batstate-u.edu.ph
COLLEGE OF ACCOUNTANCY, BUSINESS ECONOMICS AND INTERNATIONAL
HOSPITALITY MANAGEMENT
15. Jackson has a 50% participation in the profits of a partnership. During the year Jackson's capital
account had a net increase of ₱10,000. Jackson made contributions of ₱40,000 and capital withdrawal of
₱60,000 during the year. How much profit did the partnership earn during the year?
a. 60,000
b. 30,000
c. 50,000
d. 40,000
Leading Innovations, Transforming Lives
Republic of the Philippines
BATANGAS STATE UNIVERSITY
The National Engineering University
Pablo Borbon Campus
Rizal Avenue Ext., Batangas City, Batangas, Philippines 4200
Tel Nos.: (+63 43) 980-0385 loc. 1124
E-mail Address: cabeihm.pb@g.batstate-u.edu.ph | Website Address: http://www.batstate-u.edu.ph
COLLEGE OF ACCOUNTANCY, BUSINESS ECONOMICS AND INTERNATIONAL
HOSPITALITY MANAGEMENT
ANSWER KEY
1. D
2. A
3. C
4. B
5. A
6. B
7. B
8. C
9. A
10. D
11. A
12. B
13. B
14. A
15. A
SOLUTION
11.
Leading Innovations, Transforming Lives
Republic of the Philippines
BATANGAS STATE UNIVERSITY
The National Engineering University
Pablo Borbon Campus
Rizal Avenue Ext., Batangas City, Batangas, Philippines 4200
Tel Nos.: (+63 43) 980-0385 loc. 1124
E-mail Address: cabeihm.pb@g.batstate-u.edu.ph | Website Address: http://www.batstate-u.edu.ph
COLLEGE OF ACCOUNTANCY, BUSINESS ECONOMICS AND INTERNATIONAL
HOSPITALITY MANAGEMENT
12.
13.
14.
Leading Innovations, Transforming Lives
Republic of the Philippines
BATANGAS STATE UNIVERSITY
The National Engineering University
Pablo Borbon Campus
Rizal Avenue Ext., Batangas City, Batangas, Philippines 4200
Tel Nos.: (+63 43) 980-0385 loc. 1124
E-mail Address: cabeihm.pb@g.batstate-u.edu.ph | Website Address: http://www.batstate-u.edu.ph
COLLEGE OF ACCOUNTANCY, BUSINESS ECONOMICS AND INTERNATIONAL
HOSPITALITY MANAGEMENT
15.
Leading Innovations, Transforming Lives
