Accounting for Partnership: Basic Concepts Test 26

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Accounting for Partnership: Basic Concepts Test 26

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Weekly Quiz Competition

Question 1
1 / -0

Public Notice to Registrar of firm is not required if it relates to the situation other than.........

A
Expulsion of a partner

B
Retirement of a partner

C
Minor partner electing to become or not to become partner after attaining age of majority.

D
All the three
Question 2
1 / -0

The persons who have entered into a partnership are called....................

A
Firm

B
Partners

C
Co-ventures

D
Members
Question 3
1 / -0

As regard 3rd parties, a partner is ............. of the firm for all purpose within the scope of the Partners for all purposes within the scope of the partners Act.

A
Agent

B
principle

C
employee

D
Manager
Question 4
1 / -0

A party with whom a partner has agreed to i profit is called...

A
Sub-partner

B
Co-partner

C
Extra partner

D
Partner for profit only
Question 5
1 / -0

The name in which the partners of a firm carry business is called..........

A
Firm name

B
Association name

C
Registered name

D
Combined name
Question 6
1 / -0

A partner can be admitted a new partner without the consent of existing partner in which of the following circumstances.

A
If there is an agreement between the partners to this effect

B
A minor partner electing to become partner after attaining the age of majority.

C
Both (a) and (b)

D
None
Question 7
1 / -0

............discloses venturer's balance in the Joint Venture.

A
Joint Venture A/c

B
Memorandum JV A/c

C
Joint Bank A/c

D
Co-venturer's A/c
Question 8
1 / -0

Which of these rights is not available to a partner under the Partnership Act

A
to take part in the conduct of the business of the firm

B
to take retirement from the firm

C
to enter into partnership on behalf of the firm

D
to engage staff for the firm
Question 9
1 / -0

Revaluation A/c is prepared for the purpose of ..........

A
Dissolution of a firm

B
Reconstitution of a firm

C
Both

D
Either (a) 0r (b)
Question 10
1 / -0

A court may dissolve a partnership firm in which of the following circumstances

A
A partner becoming unsound mind

B
When it becomes impossible to continue the business because of loss

C
Misconduct of any partner

D
In any of the above three situations

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Re-Attempt Weekly Quiz Competition

Accounting for Partnership: Basic Concepts Test 26

Result

Accounting for Partnership: Basic Concepts Test 26

Score

-

Rank

-

SHARING IS CARING

Question 1

Expulsion of a partner

Retirement of a partner

Minor partner electing to become or not to become partner after attaining age of majority.

All the three

Question 2

Firm

Partners

Co-ventures

Members

Question 3

Agent

principle

employee

Manager

Question 4

Sub-partner

Co-partner

Extra partner

Partner for profit only

Question 5

Firm name

Association name

Registered name

Combined name

Question 6

If there is an agreement between the partners to this effect

A minor partner electing to become partner after attaining the age of majority.

Both (a) and (b)

None

Question 7

Joint Venture A/c

Memorandum JV A/c

Joint Bank A/c

Co-venturer's A/c

Question 8

to take part in the conduct of the business of the firm

to take retirement from the firm

to enter into partnership on behalf of the firm

to engage staff for the firm

Question 9

Dissolution of a firm

Reconstitution of a firm

Both

Either (a) 0r (b)

Question 10

A partner becoming unsound mind

When it becomes impossible to continue the business because of loss

Misconduct of any partner

In any of the above three situations

User

Question Analysis

My Perfomance

Score

-

Rank

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