The Indian Partnership Act,1932- Test 1

The Partnership Act,1932 deals with

The Partnership Act, 1932 came into force on

The Partnership Act extends to …..

Partnership is the relation between persons who have agreed to share the profits of a business carried on by ,,,, acting for all.

In order that persons may become partners, it is essential that …..

Which of the following are the essential of partnership?

Persons who have entered into partnership with one another are called individually-

Persons who have entered into partnership with one another are collectively called-

The name under which partnership business is carried on is called …..

A Firm is the name of-

Statement X: Partnership Firm is separate legal entity apart of its partners.
Statement Y: A partnership Firm can use the word ”Limited as a part of its name.
Select the correct answer from the given options

One of the essential elements of partnership is that there must be a contract between …….

Persons entering into partnership contract may be

Section 5 of the Act states that the relation of partnership arises from-

In which of the following case there is NO partnership?

An agreement between the partners may be …..

Partnership agreement may be expressed ……

Partnership agreement must be ……..

As per Section 2(b) of the Act term ”business” includes every –

Which of the following purpose is permissible in a partnership?

Sharing of profits is …. evidence of the existence of partnership.

To form a partnership, the parties should share ….

Which of the following arrangement indicates a partnership?

Suresh was an employee in ZPA & Co. a partnership firm with salary of 50,1000 p.m and he will get hare of profit if the profits of the firm exceed 10 lakhs.

N and Z, 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?