The indian partnership act 1932 basics of partnership mcqs for 2022!
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- In which of the following, the Partnership duration is not fixed?
- A Minor in a Partnership is:
- A Partner who has not entered into a Partnership agreement and conducts or represents himself as a Partner in a Firm is called-
- Holding Out partner is based on the principle of
- person who represents himself to be a partner but in reality he is not so, is known as a
- Partnership at Will means
- A, B, C are Partners. They promised to give 60,000 to D. If C dies, who will perform Contractr
- Which of the following is not a duty of a partner?
- A partner without having real.interest, can give the name to the partnership?
- A Nominal partner gets
- A, B & C were Partners in the partnership Firm. “A paid Liabiity of the Firm without having Authority.he what the otner Fartners will do?
- Partner is bound to attend _____ to his duties in the conduct of the business.
- Change in nature of business can be effected only based on-
- In a partnership consent of all partners is needed in case of
- Where a Partner has advanced any loan to the Firm and the agreement provides for interest, but does not speciry any rate, the rate shall be-
- Every Partner shall indemnify the Firm for any loss caused to it by his fraud in the conduct of the Firm’s business. However, the Parties may agree that some Partners need not indemnify the Firm.
- Robert is a Sleeping Partner in a Fim. He detecteda mistake in the accounts of the Firm. So he wants to check the complete accounts of the Firm.. But the other Partners objected it. Is the objection is valid?
- Which of the following is not covered.by the term Property of the Firm’?
- Partnership property vests
- To bind the Firm under Iaiplied Authority, the act must be done in the of carrying on the Firm’s business.
- Which of these acts falls outside the implied authority?
- Which of the following is beyond the implied authority of the partner?
- Which of these acts are witlhin the implied authority?
- Which of the following is with in the scope of Implied Authority of a Partner in a Partnership Firm?
- The implied authority of any Partner may be
- Which of the following is covered under implied authority of a partner?
- A third party is not affected by thé limitation of implied authority unless he has actual notice of it.
- A,B,C and D are carrying on business of mobile exports. “A was aware of the price of mobile and good knowledge in the purchasing of mobiles. A ade personal transaction in the name of the firm.
- Dormant partner means
- Domant Partner is also known as
- A introduces B to C as a Partner in his business. B, in fact, was not a Partner but he did not deny- the statement. C advanced a loan to A. A could not repay the loan, C can hold B responsible for the repayment of loan because-
- A induces B to believe that he (A
- Which of the following:is not a mode of transfer of Partners Interest u/s 29?
- In case of transfer of Partners’ Interest u/s 29, the Transferee cannot inspect the books of the Firm.
- Which is true statement regarding the incuding or the minor in partnership firm
- For the acts of the Firm
(a) Particular Partnership
(b) Partnership at will
(c) Fxed term Partnership
(d) None of these.
Partnership at will
(a) Personally liable
(b) Having unlimited lisbility
(c) Liable only when the firm is insolvent
(d) None of the above
None of the above
(a) Sleeping Partner
(b) Partner by estoppel
(c) Working Partner
(d) Sub-Partner.
Partner by estoppel
(a) Protecting public interest
(b) Estoppel
(c) Both a
(d) All of the above
Estoppel
(a) Inactive partner
(b) Partner by estoppel
(c) Partner by default
(d) Legal partner
Partner by estoppel
(a) No duration Period is Fixed
(b) Dissolved at the will of the Creditors
(c) Dissolved at the will of the Debtors
(d) None of the above
No duration Period is Fixed
(a) A, B
(b) A, B, and C’s Legal representatives.
(c) A, B do not perform
(d) None of the above.
A, B, and C’s Legal representatives.
(a) To indemnify for fraud
(b) To dissolve the firm
(c) To share losses
(d) To account for any profit.
To dissolve the firm
(a) Active partner
(b) Dormant partner
(c) Nominal partner
(d) None of the above
Nominal partner
(a) No share in profits
(b) Equal share in profits
(c) Share in profits proportionate to contribution
(d) None of the abóve
No share in profits
(a) Can ratify tne tensaction
(b) Cant ratify tne tensaction
(c) Ignore the transaction
(d) None of these.
Can ratify tne tensaction
(a) Systemabcaly
(b) Diigently
(c) Sincerely
(d) Effectively
Diigently
(a) Unanimous consernt of all the Partners
(b) Consent of majority Partners
(c) Consent of the Working Partners
(d) Consent of Sleeping Partners.
Unanimous consernt of all the Partners
(a) Change in nature of business
(b) Routine matterss
(c) Purchases of immovable property
(d) Both a & b
Change in nature of business
(a) 0.06
(b) 0.08
(c) 0.1
(d) 0.12
0.06
(a) True
(b) Partly True
(c) False
(d) None of the above.
True
(a) Void, their objection is wrong
(b) Valid, they can object.
(c) Valid, they have the right not to give the accounts to the Sleeping Partner.
(d) None of the above
Void, their objection is wrong
(a) Property and rights and interest in property originally brought into the stock of the Fim
(b) Property acquired by or for the Firm
(c) Goodwill of the business
(d) Property of the Partners.
Property of the Partners.
(a) In the Partner of the Firm
(b) In the Firm
(c) In the continuing Partners of the Firm
(d) In the retiring Partners of the Firm.
In the Firm
(a) regular way
(b) usual way
(c) routine way
(d) extraordinary way
usual way
(a) Purchase, on behalf of the Firm, goods dealt by the Firm or used by the Firm in its business
(b) Sale of the goods of the Firm
(c) Recelving payments of dobts due to the Firm and issuing recelpt for it
(d) Withdraw any suit or proceedings filed on behaif of the Firm.
Withdraw any suit or proceedings filed on behaif of the Firm.
(a) Opening Bank Account in his name on behalf of firm
(b) Purchase immovable property for the firm
(c) Settling disputes referring to arbitration
(d) All of the above
All of the above
(a) Settlement of accounts wibh third parties who deal with the Firm
(b) Open a bank account on behalf of the Firm in the Partner’s own name
(c) Compromise or relnquish any claim or portion of claim by the Firm
(d) Submit to arbitration, a dispute relating to the business of the Firm.
Settlement of accounts wibh third parties who deal with the Firm
(a) Enter into Partnership on behalf of the Firm
(b) Admit any Liability in a suit or proceeding against the Firm.
(c) Acquire Immovable Property on behalf of the Fim.
(d) Purchasing and Selling g00ds, in which the Firm deals.
Admit any Liability in a suit or proceeding against the Firm.
(a) Restricted by contract between the Partners
(b) Extended by Contract between the Partners
(c) Either oxtended or restricted by contract between the Partners
(d) Can be extended but not restricted by tontract between the Partners.
Either oxtended or restricted by contract between the Partners
(a) Submit dispute of the firm to arbitration
(b) To acquire immovable property on behalf of firm
(c) owing money and pledging goods of the firm as a security for the same.
(d) Enter into partnership on behalf of firm.
owing money and pledging goods of the firm as a security for the same.
(a) True
(b) Partly True
(c) False
(d) None of the above.
True
(a) A will not be liable for firm
(b) It is enough to inform about his private business
(c) A has to account personal profits to firm
(d) A has done fraud
A has to account personal profits to firm
(a) Never takes part in business activities
(b) Not liable for any act done by other partners
(c) Will not share losses of the firm
(d) Existence in partnership is invalid
Never takes part in business activities
(a) Sleeping Partner
(b) Active Partner
(c) Nominal Partner
(d) Sub-Partne,
Sleeping Partner
(a) Bis a Sleeping Partner
(b) B5 a Sub-Partner
(c) Bis a Dormant Partner
(d) Bis a Partner by Estoppel
Bis a Partner by Estoppel
(a) A is liable to compernsate B
(b) A can plead innocence saying that he is not a Partner of PQ & Co.
(c) A can require B to give credit to him and not the Firm
(d) Ais liable to PQ & Co.
A is liable to compernsate B
(a) Absolute Transfer
(b) Mortgage
(c) Creation of a charge on such interest by the Transferor
(d) Sale.
Absolute Transfer
(a) True
(b) Partiy True
(c) False
(d) None of the above.
True
(a) A ming may be admitted to the benefits of partnership with the consent of all partners.
(b) A minor may be admitted to the benefits partnership with no consent of other partners.
(c) A minor may be admitted to the benefits of consent of his partners
(d) A minor may be admitted to the benefis of parthership with the guarantee of his parents
A ming may be admitted to the benefits of partnership with the consent of all partners.
(a) Minor is personaly lable.
(b) Minor’s share is lable.
(c) Guardian is personalty liable
(d) There is no liability at all for or on behalf of theminor
Minor’s share is lable.
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