General Nature of Partnership – Test 3

For admitting a minor into the benefits of partnership consent of ____ is required :

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 :

Which of the following persons may be admitted as a partner in a partnership firm :-

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 :

Partnership at will means :

Partnership deed is also called as :

Mode of determining existence of partnership is :

Dormant partner is known as _______ .

Under the Indian Partnership Act, 1932, partnership can be formed with

Which of the following statements is not correct in relation to ‘Partnership’ ?

Which one of the following statements is correct ?

A person who lends his name to a partnership firm, without having any real interest, is called :

True test of the existence of a partnership between two or more persons is

The maximum number of partners in a firm/association can be

In a Partnership Firm, a boy of 16 years of age

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 ______ .

In an agreement to sell, the transfer of the property in the goods is to take place at.

The person with whom the partner of a partnership firm agrees to share his share of profit. The partnership firm is termed as :

One of the essential elements of a partnership agreement is that it :

The maximum number of partners in partnership firm is determined by ______ .

‘X’ and ‘Y’ agree to work together as partners but that ‘X’ shall receive all profits and ‘X’ shall pay wages to ‘Y’, there :

When partnership firm is formed for any adventure/undertaking is :

Every partner is an agent of the firm as regards the __ .

A public company can have a maximum of ____ member

Sharing of profit is _____ evidence of existence of partnership.

The person who represents himself as a partner in a partnership firm is called _____ .

A partnership firm cannot exceed the maximum number in other than banking business :

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 ______ .

A partnership for which no duration is fixed is known as ______ .

Each partner in a partnership firm is in the position of