General Nature of Partnership – Test 1

In case of partnership maximum number of members of banking company are :

______ Partner does not take active part in the conduct of the business :

Prior to enactment of The Indian Partnership Act, 1932, the law relating to partnership is India were embodied in :

Which of the following is not a kind of a partner :

Failure by a minor to give public notice within 6 months will have following effect.

To a Nominal Partner, which of the following conditions does not apply ?

Which of these can be admitted as a partner ?

The partnership defines business in an :

Which of these is a valid partnership ?

When a minor attains majority, from which date is he deemed to be a partner with unlimited liability ?

Limited Partnership is found in :

Johnson is an employee of ABC Ltd. He is entitled to a salary of Rs.8,00,000 and entitled to a commission of 20%. If the profit in a year is Rs.1 crore, then Johnshon is :

A person when himself told that he is a partner of the firm, then he is a :

D and J purchased 100 bales of cotton to be sold on Joint Account. They agreed to share profit and losses equally. They are :

Partnership agreement can be :

A partner who contributes capital in the firm but does not actively participates in the working of the business is called :

What is a Partnership ?

A partnership firm can raise its capital :

Johnson is employed as a controller finance in a partnership firm ABC & Co. Johnson is entitled to a monthly salary of Rs.2 Lakhs and 20% of the profits only if profits of the firm exceed Rs.1 crore in a year. State whether Johnson be called :

A partnership firm having a banking business is a valid partnership when the number of partners exceeds :

A partnership can be formed with :

A partnership formed for a fixed period, continues after the fixed period, the partnership is known as

Sleeping partner is :

Sub partnership arise between .

In case of admission of a partner, how much amount should a partner bring as his capital ?

What is the true test of partnership ?

Partnership agreement must be in ______ .

Which one of the following statements is true :

A and B enter into an agreement to work together for a Construction project where in A will receive all the payments including profits and shall pay Rs.300 per day as wages to B. State weather A and B are :

A partnership firm can raise its capital :