The Two Types of Partnerships Are __________ and __________

question 2

Multiple Choice

The two types of partnerships are __________ and __________.

• A) proprietorship; corporation
• B) specific; general
• C) general; limited
• D) limited; specific

---

Definitions:

Net Sales Revenue

Net Sales Revenue is the total revenue from sales of goods or services after deducting returned goods and any allowances or discounts.

Bank Reconciliation

A process of ensuring that the bank's records of an individual's or company's cash balance matches the financial records of the company.

Depositor's Book

A record book kept by a depositor, detailing all deposits and withdrawals from a bank account.

Cash Balance

The amount of cash in a company's accounts at any given time, reflecting its immediate monetary resources.