General Nature of Partnership – Test 2

Raj and Ram, two friends buy hundred mobile sets agreeing to share the same between them. It is a :

Which of these statements is not true with respect to a Joint Hindu Family Business ?

An agreement between the partners must be :

Which of the following words can be used as a part of a firm name ?

A and B purchased a second hand car, get it renovated for selling and shared the proceeds equally. They are :

X and Y formed a partnership firm to undertake construction of a Terminal for Northern Railway at Pune. This partnership is a :

In the absence of specific provisions in the Partnership Deed, every partner is bound to contribute in _____ to the losses of the firm :

A particular partnership is :

Where no provision is made by contract between the partners for duration of partnership or determination of their partnership, the partnership is called:

Which of the following is not Valid Partnership :

To constitute a partnership agreement, it :

Partnership deed signifies :

A minor should give public notice within _____ months of attaining majority, to elect whether to become a partner or not to become a partner.

True test of partnership is :

Partnership cannot be formed between :

Interest on capital will be allowed only when :

A introduces B to C as a partner in his firm. in fact is not a partner but did not deny the fact. C advanced a loan to A, which he (A) could not pay back. C held B liable for repayment of loan because : B is a

According to the Indian Partnership Act, 1932 a partnership is valid where :

Under the Indian Partnership Act, 1932, in the absence of agreement among the partners, profits of a firm shall be divided in the ratio of :

Mutual agency under the Indian Partnership Act, 1932 means :

Liability of a partner is _______ .

In case of emergency of a partner of the firm can act as :

When a person holds himself out as a partner, but he is actually not, which type of partner is he ?

A partnership arises from ___ ?

A finder of lost goods can realise the goods if true owner cannot be found with ______ .

Where no provision is made by contract between partner’s for the determination of duration of their partnership, then it is called _____ .

The partnership firm having banking business becomes an illegal association when the number of partners in the firm exceeds _____ .

A Partnership firm does not have the characteristic of :

A partner who does not contribute capital in the firm and does not participate actively in the working of the business of the firm but allows the firm to use his name along with goodwill is called :

A Sleeping Partner is one who _________ .