MCQ MCQ on Indian Partnership Act

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The Indian Partnership Act Quiz:

Ques. Right of buyer of firms goodwill …..

(a) to use the firm name

(b) to share in dissolved firm

(c) to file suit

(d) none of these

Ans. (a)

Ques. When Indian Partnership Act came into effect ?

(a) 1933

(b) 1923

(c) 1932

(d) 1872

Ans. (a)

Ques. After the dissolution of firm goodwill of firm …..

(a) can be changed

(b) can be sold

(c) cannot be sold

(d) can’t do anything

Ans. (b)

Ques. Minimum members required in partnership firm is …..

(a) 07

(b) 08

(c) 10

(d) 02

Ans. (d)

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Ques. Consequence of non – registration of partnership firm …..

(a) file a suit

(b) it is crime

(c) cannot file a suit

(d) breach of law

Ans. (c)

Ques. Maximum partner allowable for banking business is …..

(a) 02

(b) 10

(c) 07

(d) 20

Ans. (b)

Ques. When partnership firm can not be dissolved compulsorily ?

(a) Insolvent

(b) Act against law

(c) None of these

(d) Lawful business of firm

Ans. (c)

Ques. Every partner is ……….. of the other partners.

(a) servant

(b) principal

(c) an agent

(d) owner

Ans. (c)

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Ques. Property of partnership from mean …..

(a) goodwill

(b) reputation

(c) name

(d) patent

Ans. (a)

Ques. Who is third party in partnership firm?

(a) permanent partner

(b) not partner in firm

(c) temporary partner

(d) partner in firm

Ans. (b)

Ques. Group of person is firm …..

(a) who are members of H.U.F.

(b) who are business couple husband – wife

(c) who are co-owners

(d) with whom agreement of sharing of profit is agreed upon

Ans. (d)

Ques. What is the object of partnership ?

(a) Loss

(b) Charity

(c) Profit

(d) None of these

Ans. (c)

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Ques. Can Firm be dissolve after the death of any partner ?

(a) as per contract

(b) as per law

(c) by court

(d) none

Ans. (a)

Ques. Agreement in partnership is for …..

(a) distribute of loss

(b) none of these

(c) distribute goods

(d) distribute of profit

Ans. (d)

Ques. Can Partnership firm be dissolve by court ?

(a) Yes

(b) No

(c) No provision in law

(d) None

Ans. (a)

Ques. Before 1932 under which law the provision of partnership act was made ?

(a) Civil Act 1484

(b) Contract Act 1872

(c) Contract Act 1908

(d) Common Law 1782

Ans. (b)

Ques. Implied authority of partner is …..

(a) to create new firm

(b) to dissolve the firm

(c) to sign the cheque

(d) none of these

Ans. (c)

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Ques. Any partner can utilize the property of firm to personal use ?

(a) At will

(b) As per contract

(c) Yes

(d) No

Ans. (d)

Ques. Is minor personally responsible for act of the firm ?

(a) Yes

(b) No

(c) Uncertain

(d) Sometimes

Ans. (b)

Ques. When partnership from can be dissolve by agreement ?

(a) When dispute arise

(b) Death of partners

(c) With the consent of all partners

(d) By court

Ans. (c)

Ques. Minor partner has right with the firm for …..

(a) loss

(b) none of these

(c) take part in administration

(d) profit

Ans. (d)

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Ques. Lien is ….. of the partner

(a) powers

(b) liability

(c) duty

(d) right

Ans. (d)

Ques. Dissolution of firm means …..

(a) dissolution of firm

(b) Revocation of firm

(c) dissolution of partnership

(d) Dissolution of trust

Ans. (c)

Ques. Every partner has right for …..

(a) demand of account

(b) do not work

(c) doing fraud

(d) none of these

Ans. (a)

Ques. A partner cannot ……….. with his firm.

(a) deed

(b) will

(c) contract

(d) promissory note

Ans. (c)

Ques. A partner can not transfer his interest without the ……….. of other partners.

(a) consent

(b) evidence

(c) deed

(d) none of these

Ans. (a)

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Ques. Liability of partners is …..

(a) limited

(b) none of these

(c) unlimited

(d) voluntary

Ans. (c)

Ques. Partnership for fixed term means …..

(a) for fixed term

(b) uncertain time

(c) both one & two

(d) none

Ans. (a)

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