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Forms of Business Organisations Test - 17

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Forms of Business Organisations Test - 17
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Which of these rights are available to a partner under the Partnership Act ________.
    Solution
    Option C is the correct answer.
  • Question 2
    1 / -0
    A person not being a partner but represents himself to be a partner is called...........
    Solution
    Option B is the correct answer.
  • Question 3
    1 / -0
    In India Companies are governed by ________.
    Solution
    In India companies are governed by the companies act, 1956 amended from time to time. The provisions of the act will apply to:
    i) Any body corporate registered under the act.
    ii) Insurance company except the ones registered under the insurance act 1938.
    iii) Banking company except the ones registered under the Banking company act. 1949.
    iv) Company supplying electricity and is not registered in the electricity generation act 1948.
  • Question 4
    1 / -0
    Which of these statements is true in respect of a Joint Hindu Family business?
    Solution
    The firm enjoys continuity of operations as its existence is not subject to the death or insolvency of a co-parcener or even of the Karta himself. Thus, it has a perpetual life like the public limited company.
  • Question 5
    1 / -0
    In HUF the main person is called ____________.
    Solution
    In HUF the main person is called as karta. He is typically the eldest person or head of the family who heads the HUF and manages its day to day operations. He also takes care of day to day expenses along with protecting the joint family properties. He is sui generis and acts on behalf of other members. Hence the correct answer is A.
  • Question 6
    1 / -0
    In order to not to bind the firm for all the acts done by a partner within the implied authority which has been restricted by mutual agreement between the partners, the firm need to establish that........
    Solution
    Option C is the correct answer.
  • Question 7
    1 / -0
    What is the real test of existence of a partnership
    Solution
    Option A is the correct answer.
  • Question 8
    1 / -0
    Which of these rights are available to a transferee under the Partnership Act.
    Solution
    Option D is the correct answer.
  • Question 9
    1 / -0
    Application for dissolution of a firm on the ground of permanent incapacity of a partner can be made by...
    Solution
    Option B is the correct answer.
  • Question 10
    1 / -0
    Which of the following is not the property of a partnership firm
    Solution
    Option B is the correct answer.
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