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WAEC Financial Accounting 2023 Question 47

Question 47

Partnership Accounts

A partnership is formed by

  1. A.only one person.
  2. B.two or more individuals.
  3. C.two or more companies.
  4. D.two individuals only.
Show the answer and explanation

Answer: B (two or more individuals.)

Explanation

A partnership is two or more persons in business together.