Self Studies
Self Studies
Self Studies
Self Studies
Selfstudy
Selfstudy

Accounting for Partnership: Basic Concepts Test 14

Result Self Studies

Accounting for Partnership: Basic Concepts Test 14
  • Score

    -

    out of -
  • Rank

    -

    out of -
TIME Taken - -
Self Studies

SHARING IS CARING

If our Website helped you a little, then kindly spread our voice using Social Networks. Spread our word to your readers, friends, teachers, students & all those close ones who deserve to know what you know now.

Self Studies Self Studies
Weekly Quiz Competition
  • Question 1
    1 / -0
    A partner is a /an ___________ of the firm so far his dealing with outside world for the purpose of business of the firm are concerned.
  • Question 2
    1 / -0
    As per section 11 of the Companies Act, a partnership firm consisting of more than 20 persons (10 in case of a banking company) unless registered a company or formed in pursuance of some other law become _______.
    Solution
     Partnership consisting of more than ten persons shall be formed for the purpose of carrying on the business of banking, unless it is registered as a company under this Act or is formed in pursuance of some other Indian law.
  • Question 3
    1 / -0
    Indian Partnership Act,1932 is not applicable to which of these states?
    Solution
    1 October 1932 except section 69 which came into force on the 1st day of October 1933. Extends to the whole of India except for Jammu and Kashmir. The Indian Partnership Act, 1932 was enacted in India in 1932.
  • Question 4
    1 / -0
    A partnership firm should have at least ______ partners.
  • Question 5
    1 / -0
    If an expression is not defined under the Partnership Act, 1932, recourse may be made to ___________.
  • Question 6
    1 / -0
    Which of these is/are essentials of a valid partnership?
    Solution
    Valid partnership exist when there is two or more persons engage in business and there is agreement between them. Such agreement may be oral or written.
  • Question 7
    1 / -0
    A partnership is created for which of these purposes?
    Solution
    It is a basic element of partnership to carry business to earn profit.
  • Question 8
    1 / -0
    Application for registration of the firm is to be delivered to the Registrar of firms of the area in which __________ is situated or proposed to be situated.
    Solution
    As per the Indian Partnership Act, 1932, registration is optional.
    However, if the firm is registered, the application is to be delivered to the registrar of firm in area where the 'business' takes place since that is the place where all the important transactions take place. 
    'Registered office' is important in case of companies.
  • Question 9
    1 / -0
    Registration of a partnership can be effected ________________.
  • Question 10
    1 / -0
    A person not being a partner but represents himself to be a partner is called a __________.
    Solution
    Legally binding partnership that may arise where, in fact, no formal partnership agreement is in effect. A person who by conduct or words represents, or allows him/herself to be represented, as a partner in a firm is liable for the credit or loans obtained by firm on the basis of such representation.
Self Studies
User
Question Analysis

  • Correct -

  • Wrong -

  • Skipped -

My Perfomance
  • Score

    -

    out of -
  • Rank

    -

    out of -
Re-Attempt Weekly Quiz Competition
Self Studies Get latest Exam Updates
& Study Material Alerts!
No, Thanks
Self Studies
Click on Allow to receive notifications
Allow Notification
Self Studies
Self Studies Self Studies
To enable notifications follow this 2 steps:
  • First Click on Secure Icon Self Studies
  • Second click on the toggle icon
Allow Notification
Get latest Exam Updates & FREE Study Material Alerts!
Self Studies ×
Open Now