1) The most important element in partnership is :
2) The provision about the maximum number of partners is mentioned in
3) A minor is
4) A partnership at will is one
5) Active partner is one who
6) Each partner is
7) Death of partner has effected of
8) After retirement from firm ,which of the following partners is not liable by holding out even if the public notice of retirement is not given?
9) Suppose you have entered into a partnership agreement with me & the partnership deed provides neither for the duration nor the determination of our partnership. What is the technical expression for this kind of partnership
10) The position of a minor in a partnership firm is to be determined taking into account 1.The Indian Contract Act , 1872 , 2.The Indian Partnership Act , 1932 , 3.Minor's agreement ,4.The Majority Act ,1875
11) Which of the following is not an essential feature of partnership ? 1.Agreement , 2. Registration .3. Test of mutual Agency , 4.Seperate legal entity
12) X agrees with Y to carry passengers by taxi from Delhi to Goa on the following terms , namely , Y is to pay X Rs.100 per mile per annum , & X & Y are to share cost of repairing & replacement of the cars & to divide equally between them the proceeds of fares received from passengers.Choose the correct alternative
13) X agrees with Y who is a goldsmith to buy and furnish gold to Y ,to be worked up by him & sold ,& that they shall share in the resulting profit or loss .The contract between X & Y is that of
14) No duration for partnership
15) Duration for period
16) When partner of a firm agrees to Share his own share of profits with an outsider,it is called.
17) Partnership
18) Co-ownership
19) Hindu-Undivided Family
20) Company
21) Partnership business carried on by all or by any of them acting for all
22) Sharing of profits
23) Full Fledged partner
24) Sleeping Partner
25) Partner by holding out
26) Partner to benefits of partnership
27) Actual partner
28) Sleeping Partner
29) Nominal partner
30) Sub-partner
31) Number of partners exceed 50
32) Mutual agency
33) Partnership for specific venture
34) Two or more members
35) Partnership is a legal relationship
36) Law of partnership is an extension
37) The Indian partnership Act came into force on
38) The Indian partnership act ,1932 extends to
39) Which law governs the partnership business in India
40) The Indian partnership act ,1932 deals with
41) Act of a firm' means
42) According to Partnership act "Business" includes
43) Prescribed' under the partnership act means
44) Expression used but not defines on the partnership act & defined in the Indian contract act ,1872
45) In any partnership business ,maximum number of partners in case of non-banking business is
46) Identify the correct statement
47) The law relating to partnership firms is contained in
48) Minimum number of persons to carry on partnership business is
49) Partnership means
50) Persons who have entered into partnership with one another are called individually
51) A partner may be
52) The essence of partnership is
53) Partnership arises
54) A partnership agreement may be
55) Point out the odd in regards to partnership
56) Point out who may not be a partner
57) Who can contract for a partnership ?
58) A partnership agreement between person arises from
59) In case of business other than banking
60) Whether a group of person is not a firm shall be determined
61) Whether a person is or not a partner in a firm shall be determined
62) Receipt by a person of a share of the profits of a business
63) Sharing of profits or gross returns arising from property by person holding a joint or common interest in that property
64) Receipt by a person of the following in a business does not make him partner
65) Particular partnership means
66) The essential feature of partnership is
67) A partnership is 'partnership at will'
68) 'Partnership' has been defined in section
69) 'Firm name' has been defined in section
70) 'Business' has been defined in section
71) Agreement between partners is one of the essence elements of
72) In partnership an agreement to share profits implies
73) The true test of partnership is
74) A partner is
75) Any one who by words spoken or written or by conduct represents himself to be a partner in a firm ,is called
76) The partnership Act extends to the whole of India except the state of
77) Section ______of the partnership Act ,1932 defines the term 'Third Party'
78) A & B enter into a joint trading adventure for sale of sesame seeds grown in both their fields during its harvest season .The partnership comes to an end after the sales. this agreement is called
79) Where a partnership agreement provides neither for the duration nor for the determination of or particular object the partnership it is called
80) Are the members of a Hindu undivided family carrying on a family business as such ,partner in such business
81) X & Y buy 200 bales of cotton ,agreeing to share the same between them. There is a valid partnership between X & Y
82) Which is not a characteristics of partnership firms?
83) Subject to the provision of the act ,the partner is in agent of the firm for
84) A valid partnership can be formed with one major partner & other minor admitted only to the benefits of the firm
85) P,Q & R are partners ,R is a sleeping partner who has not been known by creditors to be partner of P & Q ,R retires without giving public notice of his retirement .Is R liable for subsequent debts incurred by P & Q ?
86) For an effective notice on the firm,it must be made to
87) Sharing of profits is ______ of partnership
88) Which of the following words are not permissible in a firm's name ?
89) The max.no. of persons permissible for a valid partnership for doing any business other than banking business is
90) Where the number of partners exceeds the maximum limit, the illegal association cannot be used
91) R & K were partners in a business as suppliers of leather goods & were regular contractors to govt.K ,without knowledge of R ,supplied to govt.certain leather goods in which the firm was also dealing & made substantial profits
92) X & Y purchase 10,000 bags of cement which they agree to sell for their joint a/c & share the profits thereof. there is a valid partnership between x & y
93) X & Y are joint ownership .There is a valid partnership between X & Y
94) Third party' under in relation to a firm or to a partner means
95) A money lender getting a share in the profits of the firm for the sum lent is a partner in the firm.
96) Sharing of profits of a business is conclusive evidence of partnership.
97) A partner, whether active or dormant, is entitled to have access to any of the books of the firm and take out a copy thereof.
98) Sharing of profits is conclusive evidence of partnership.
99) Where two persons jointly run a coach and share the profits derived from running such business constitute partnership business?
100) A partnership may be formed with two partnership firms as partners.
101) The test of existence of partnership is the element of ‘sharing of profits’ rather than ‘mutual agency’.
