Registration and Dissolution of a Firm – Test 2

The accounting rule in respect of loss arising due to insolvency of a partner is dealt within ____ .

A and B become partners for 16 years. A pays B a premium of Rs.5,000. At the end of 8 years, there is dispute between A and B and they declare a dissolution :

The conclusive evidence of registration of firm is :

At the time of dissolution of a firm, every partners or his representative is entitled to have the ___ applied in payment of the debts and liabilities of the firm :

Voluntary Dissolution is :

Register of firm is open to inspection :

Which of the following are grounds for compulsory dissolution of the firm by court ?

Application for dissolution of a firm on the ground of permanent incapacity of a partner can be made by :

The private property of any partner shall be applied first in payment of :

In case of unregistered firms, public notice is given in the following manner :

On dissolution the partners remain liable until

X, Y and Z are partners in a firm. Y and Z died in an accident. X continues the business in the name of the firm ?

A non-registered firm can claim a set off an amount non exceeding.

ABC is a registered firm. C died on 30th June. A and B sue X in the name of ABC. What is the consequence ?

When the number of partners in a firm exceeds the number permissible under the Indian partnership Act, 1932, the partnership becomes :

The amount received by a partnership firm from the insurance company on the maturity of a Joint Life Policy taken by the firm will be distributed amongst the partner.

In a suit, a non-registered firm cannot claim set-off above ______ .

A partnership firm will not be Compulsory dissolved if ______ .

Application for registration of a Partnership Firm should be signed by ____ .

XYZ firms consists of 4 partner viz. X, Y, Z and A, having one fourth share each in the profits of the firm. According to X, Y and Z activities of A are not in the interest of the partnership and thus want to expel A from the firm. Advise whether :

An unregistered firm may institute a suit if the value of the suit does not exceed :-

When a partner of a firm is adjudicated as an insolvent, he ceases to be a partner as _____ .

An unregistered firm does not have

For dissolution of the firm, a partner may apply to the court on the ground of _______ .

The mode of dissolution of a partnership firm provided under the Indian Partnership Act, 1932 is

On which ground, court may dissolve a firm at the suit of a partner :

For the purpose of expulsion of a partner _____ .

The date of compulsory dissolution for a partnership firm is _______ .

On the dissolution of a firm, the partners selling the goodwill of a firm cannot :

‘A’ entered into a partnership agreement with ‘B’ in which ‘A’ makes an advance to the firm in addition to the amount of capital to be contributed by him. After dissolution of the firm :