NABTEB Book Keeping 2015 Objective — Question 2
Question 2 of 40 from the National Business and Technical Examinations Board (NABTEB) Book Keeping 2015 Objective paper, with the correct answer and a full explanation.
Advertisement
A source of fund available to a partnership is
- A. personal savings
- B. loan from friends
- C. operating loanCorrect
- D. issue of shares
Explanation
Partnerships can obtain operating loans from financial institutions as a source of funding for their business; they cannot issue shares, as that is a characteristic of companies/corporations.
Advertisement
Sign up free to unlock
- Score tracking
- Practice history
- Saved questions
- Progress dashboard
- Personalized sessions
- Weak-topic breakdown
…and/or go further with premium services and No Ads.