11 the date of declaration is the date the dividends are actually distributed to the shareholders. T or F?

12 Each partner is personally and individually liable for all partnership liabilities except the industrial partner. T or F?

13 As compared to sole proprietorship, a greater amount of capital can be accumulated in a partnership because of the number of persons involved. T or F?

14 The purpose of the partnership business is to divide the profit among them. T or F?

15 Between book value and market value, book value should be used when recording capital contribution during the formation of the partnership. T or F?

16 the Partner's drawing account is credited when he/she gets the share of his/her partnership profit. T or F?

17 shares of stock can be also distributed as dividends. T or F?

18 for a par value stock, the share capital account is credited at the par value when shares sold or subscribed have been fully collected. T or F?