General Nature of Partnership – Test 9

Salient features of Partnership do not include

What is the difference between a Hindu Joint Family and a partnership

Which is the incorrect sentence

X and Y agree to work together as entrepreneur but X shall receive all profit and shall pay wages to Y. Is there a partnership relation between parties ?

Section ______ of the Partnership Act, 1932 deals with “Particular Partnership”.

A person may become a Partner with another person for particular adventures or undertakings. This arrangement is called

X and Y, the co-owners of a house, use the house as a hotel managed either by themselves or by a duly appointed manager for their common profit. Is there a partnership relation between the parties ?

A Partnership firm has a legal status separate and distinguish that of its members.

What is the difference between a partner and a co-owner

Which of the following is not correct

Audit of the Partnership Firm’s accounts is compulsory under the Partnership Act, 1932.

If two or more persons hold a property and share the income derived out of it, their relationship is called

Liability of a Partner is

If the Partners carry on the business even after the expiry of the agreed fixed period, it becomes.

Where no time is expressly related for its duration and there is no contract to fix the duration, the Partnership ma be terminated at a moment’s notice by the other party. This Partnership is known as

Section _____ of the Partnership Act, 1932 deals with ” Partnership at will”.

To form a  Partnership, the minimum capital contribution should be

Which of this is not a valid Partnership ?

Which of the statements given below is correct

Number of Partners is limited to 20 in a

X agrees with Y who is a trader who buy sold semi finished furniture and sold, and that they shall share in the resulting profit or loss. The contract between X and Y is that of

For a sleeping partner which does not apply

A partner by holding out

As a company can become a partner in the firm, there can also be a partnership between two firms

Which of the following persons, though receive profits, are not partners in a firm as per Section 6 of the Partnership Act.

The members of a club or association have ________ of the club or association.

Which of the following statements is true ?

When a partner of a firm agrees to share his own share of profits with an outsider, is called.

Which is NOT a characteristic of Partnership Firms ?

Which of these are not necessary of constituting a Partnership ?