Accounting for Partnership: Basic Concepts Test 37

Result

Accounting for Partnership: Basic Concepts Test 37

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Weekly Quiz Competition

Question 1
1 / -0

A management accountant is generally concerned with _________.

A
timely providing information useful for managerial decision

B
ensuring legal compliance

C
ensuring arithmetic accuracy of all the financial information's

D
all the three
Question 2
1 / -0

Loss due to insolvency of a partner is born by

A
All the partners

B
High net worth partners

C
Solvent partners only

D
Senior partners only
Question 3
1 / -0

Register of firm is open to inspection by

A
Partners only

B
Income-tax authorities only

C
Any person

D
Bankers only
Question 4
1 / -0

If a firm is declared insolvent, the share of minor partner in the firm vests in the.....

A
Official receiver / assignee

B
Other senior partner

C
State Government

D
In his legal representatives
Question 5
1 / -0

Delivery under the Sale of Goods Act, includes voluntary transfer of

A
Ownership

B
Possession

C
Risk

D
Reward
Question 6
1 / -0

Notice of intention to dissolve a partnership at will can be served by

A
Dormant partner

B
Any partner

C
Senior partner

D
Legal advisor
Question 7
1 / -0

What is the maximum fee payable to the Registrar of firms at the time of giving Intimation under section $$61$$ of the Indian Partnership Act.

A
Re. One only

B
Rs.$$10$$ only

C
Three Rupees.

D
Rs. fifity
Question 8
1 / -0

Words like Royal, Crown, Emperor, King, Queen etc. can be used as a part of firm's name only.....

A
with the approval of State Government

B
with the approval of Central Government

C
after taking advice from a Jyotisi

D
with the approval of Court
Question 9
1 / -0

Mutual right and duties of partners are decided by-

A
Partnership Act itself

B
Mutual contract between the partners

C
Contract Act

D
CRPC
Question 10
1 / -0

In case a partner has been promised guaranteed profit, then short fall in profit is met by ____________.

A
all the partners necessarily

B
senior partner

C
partner giving guarantee only

D
none

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Re-Attempt Weekly Quiz Competition

Accounting for Partnership: Basic Concepts Test 37

Result

Accounting for Partnership: Basic Concepts Test 37

Score

-

Rank

-

SHARING IS CARING

Question 1

timely providing information useful for managerial decision

ensuring legal compliance

ensuring arithmetic accuracy of all the financial information's

all the three

Question 2

All the partners

High net worth partners

Solvent partners only

Senior partners only

Question 3

Partners only

Income-tax authorities only

Any person

Bankers only

Question 4

Official receiver / assignee

Other senior partner

State Government

In his legal representatives

Question 5

Ownership

Possession

Risk

Reward

Question 6

Dormant partner

Any partner

Senior partner

Legal advisor

Question 7

Re. One only

Rs.$$10$$ only

Three Rupees.

Rs. fifity

Question 8

with the approval of State Government

with the approval of Central Government

after taking advice from a Jyotisi

with the approval of Court

Question 9

Partnership Act itself

Mutual contract between the partners

Contract Act

CRPC

Question 10

all the partners necessarily

senior partner

partner giving guarantee only

none

User

Question Analysis

My Perfomance

Score

-

Rank

-

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