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 6
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Subject :- Mercantile law No.of Quiz questions :- 30
Chapter :- General Nature of Partnership – Test 6
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A Partnership deed provides that the minor were to share the profits and losses, such a documents is
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Question 2 of 30
2. Question
1 points
Section ______ of the Partnership Act, defines the term “Firm Name”, Partner and “Firm” .
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Question 3 of 30
3. Question
1 points
Which of the following constitutes partnership ?
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Question 4 of 30
4. Question
1 points
Section _____ of the Partnership Act, 1932 defines the term “partnership”.
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Question 5 of 30
5. Question
1 points
Persons who have entered into partnership with one another are individually called .
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Question 6 of 30
6. Question
1 points
Which of these gives the correct definition of partnership ?
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Question 7 of 30
7. Question
1 points
According to which section gives below partnership is defined as “A relation between person who have agreed to share the profits of a business carried on by all or any of them acting for all”
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Question 8 of 30
8. Question
1 points
Partner by holding out is
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Question 9 of 30
9. Question
1 points
A partnership at will is one
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Question 10 of 30
10. Question
1 points
Which of the following statements are correct
Partnership arises from a contract and not from status
A partner is not an agent of other partners
A money lender getting a share in the profits of the firm for the sum lent is not a partner in the firm
Sharing of profits of a business is conclusive evidence of partnership
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Question 11 of 30
11. Question
1 points
Active partner is one who
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Question 12 of 30
12. Question
1 points
Some individuals from an association to which each partner contributes Rs.5,000 annually. The purpose is to produce cloth for distributing free to war-widows. The association is
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Question 13 of 30
13. Question
1 points
Who among the following can be a partner in partnership firm
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Question 14 of 30
14. Question
1 points
An agreement between partners may be
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Question 15 of 30
15. Question
1 points
X and Y co-owners of some inherited firm, agree to continue the business for profits. They are now
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Question 16 of 30
16. Question
1 points
The sharing of profits or of gross return arising from property, by persons holding a joint or common interest in that property, automatically makes those persons, Partners.
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Question 17 of 30
17. Question
1 points
The Partnership Act, 1932 deals in
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Question 18 of 30
18. Question
1 points
In relation to a firm or Partnership, “Third Party” means
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Question 19 of 30
19. Question
1 points
The term “Act of a Firm”, means an act or omission by _____ , which gives rise to a right enforceable by or against the Firm .
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Question 20 of 30
20. Question
1 points
Sharing of profits is ___ evidence of existence of partnership .
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Question 21 of 30
21. Question
1 points
To form a Partnership, the parties should share
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Question 22 of 30
22. Question
1 points
Persons who have entered into Partnership with one another are collectively called
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Question 23 of 30
23. Question
1 points
The sharing of profits or of gross returns arising from property, by persons holding a joint or common interest in that property, automatically makes those persons, Partners .
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Question 24 of 30
24. Question
1 points
Which of these sharing arrangements reflects a partnership ?
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Question 25 of 30
25. Question
1 points
The name under which the Partnership business is carried on, is called
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Question 26 of 30
26. Question
1 points
Which of these statements does not reflect the mutual agency principle in partnership ?
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Question 27 of 30
27. Question
1 points
The ratio in which partners share profits and losses are
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Question 28 of 30
28. Question
1 points
Partnership agreements may be expressed
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Question 29 of 30
29. Question
1 points
X and Y are the joint-owners of a house. They rent it out to Z and divide the net rent equally. They are