NECO Book Keeping 2015 Objective — Question 2
Question 2 of 40 from the National Examinations Council (NECO) Book Keeping 2015 Objective paper, with the correct answer and a full explanation.
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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.
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