Online Exam in General Nature of Partnership in Mercantile Laws for the preparation of professional exams of ca cpt, ca foundation, cs foundation, cma foundation
General Nature of Partnership - Test 3
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Subject :- Mercantile law No.of Quiz questions :- 30
Chapter :- General Nature of Partnership – Test 3
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For admitting a minor into the benefits of partnership consent of ____ is required :
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Question 2 of 30
2. Question
1 points
A rented a house from X for carrying on the business of the firm. After one month A did not pay the rent. B and C are other partners of the firm. X can claim his rent from :
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Question 3 of 30
3. Question
1 points
Which of the following persons may be admitted as a partner in a partnership firm :-
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Question 4 of 30
4. Question
1 points
M, is employed as a manager by a partnership firm ABC Brothers; M is entitled to a salary of Rs.50,000 per month and 10% of profits of the firm only. If profits of the firm exceeds Rs.30 lakhs in a year .
State whether M :
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Question 5 of 30
5. Question
1 points
Partnership at will means :
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Question 6 of 30
6. Question
1 points
Partnership deed is also called as :
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Question 7 of 30
7. Question
1 points
Mode of determining existence of partnership is :
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Question 8 of 30
8. Question
1 points
Dormant partner is known as _______ .
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Question 9 of 30
9. Question
1 points
Under the Indian Partnership Act, 1932, partnership can be formed with
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Question 10 of 30
10. Question
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Which of the following statements is not correct in relation to ‘Partnership’ ?
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Question 11 of 30
11. Question
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Which one of the following statements is correct ?
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Question 12 of 30
12. Question
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A person who lends his name to a partnership firm, without having any real interest, is called :
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Question 13 of 30
13. Question
1 points
True test of the existence of a partnership between two or more persons is
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Question 14 of 30
14. Question
1 points
The maximum number of partners in a firm/association can be
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Question 15 of 30
15. Question
1 points
In a Partnership Firm, a boy of 16 years of age
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Question 16 of 30
16. Question
1 points
Several men form an association in which each partner contributes Rs.500 annually. The purpose of it is to produce cloth for distributing free to war widows. Type of partnership is ______ .
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Question 17 of 30
17. Question
1 points
In an agreement to sell, the transfer of the property in the goods is to take place at.
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Question 18 of 30
18. Question
1 points
The person with whom the partner of a partnership firm agrees to share his share of profit. The partnership firm is termed as :
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Question 19 of 30
19. Question
1 points
One of the essential elements of a partnership agreement is that it :
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Question 20 of 30
20. Question
1 points
The maximum number of partners in partnership firm is determined by ______ .
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Question 21 of 30
21. Question
1 points
‘X’ and ‘Y’ agree to work together as partners but that ‘X’ shall receive all profits and ‘X’ shall pay wages to ‘Y’, there :
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Question 22 of 30
22. Question
1 points
When partnership firm is formed for any adventure/undertaking is :
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Question 23 of 30
23. Question
1 points
Every partner is an agent of the firm as regards the __ .
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Question 24 of 30
24. Question
1 points
A public company can have a maximum of ____ member
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Question 25 of 30
25. Question
1 points
Sharing of profit is _____ evidence of existence of partnership.
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Question 26 of 30
26. Question
1 points
The person who represents himself as a partner in a partnership firm is called _____ .
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Question 27 of 30
27. Question
1 points
A partnership firm cannot exceed the maximum number in other than banking business :
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Question 28 of 30
28. Question
1 points
A and B to divide the profits of a business equally but the loss, if any is to be borne by A alone. The partnership agreement is ______ .
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Question 29 of 30
29. Question
1 points
A partnership for which no duration is fixed is known as ______ .
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Question 30 of 30
30. Question
1 points
Each partner in a partnership firm is in the position of