Admission of a Partner Test

Result

Admission of a Partner Test - 26

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Weekly Quiz Competition

Question 1
1 / -0

A company can be a partner in firm if __________.

A
Authorized by its Memorandum of Association

B
Authorized by articles of association

C
Authorized by Central Government

D
None of the cases
Question 2
1 / -0

Which of these rights is not affected if the firm is not registered?

A
Right third party against the firm

B
Right of the partner of firm for set off in a suit against the firm

C
Rights of the partners to sue for the dissolution of the firm

D
Powers of the official receiver to bring suit or action on behalf of the insolvent
Question 3
1 / -0

Which of these rights are affected if a firm is not registered?

A
Suit against third parties, other partners and firms

B
Right of third party against the firm

C
Rights of the partners to sue for the dissolution of the firm

D
Powers of the official receiver to bring suit or action on behalf of the insolvent
Question 4
1 / -0

A partnership firm is compulsorily dissolved under which of these circumstances.

A
On the death of a partner

B
On insolvency of any partner

C
On running into losses

D
If the business of the firm becomes unlawful due to the happening of some event
Question 5
1 / -0

Which of this statement is true about Registration of a firm _____________________.

A
Registration of firm is Mandatory

B
Non-registration of a firm is a criminal offence

C
Registration is not mandatory but non-registered firms are subject to some disadvantages

D
Registration of firm case availability of funds
Question 6
1 / -0

An admission or representation made by a partner concerning the affairs of the firm is the evidence against the firm _____________.

A
In all the cases and circumstances

B
If it is made in the ordinary course of business

C
When it is in the best interest of the firm

D
When there are reasons to believe such admission

Solution

As per section 23 of The Indian Partnership Act 1932, An admission or representation made by a partner concerning the affairs of the firm is evidence against the firm, it is made in the ordinary course of business.
Therefore, B is the correct option.
Question 7
1 / -0

An irregularly expelled partner has __________.

A
Right to reinstatement

B
Right to get back his share of profit and property in the firm

C
Both

D
None
Question 8
1 / -0

Which of these constitute a valid partnership.

A
A dormant partner getting share of business profit from the firm

B
Lender of money sharing in the profit of the borrowers business

C
A minor son of a deceased partner getting annuity

D
An agent of the firm getting a part of business profits
Question 9
1 / -0

____________ cannot be admitted as a partner in a firm.

A
Miner

B
Person of unsound mind

C
Widower

D
Bachelor
Question 10
1 / -0

Firm is deemed to be wound up on ___________.

A
Elapse of six month from the date of filing applications

B
Settlement of accounts

C
Receipt of court order

D
$$31st$$ March of the following year

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Question Analysis

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Admission of a Partner Test - 26

Result

Admission of a Partner Test - 26

Score

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Rank

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SHARING IS CARING

Question 1

Authorized by its Memorandum of Association

Authorized by articles of association

Authorized by Central Government

None of the cases

Question 2

Right third party against the firm

Right of the partner of firm for set off in a suit against the firm

Rights of the partners to sue for the dissolution of the firm

Powers of the official receiver to bring suit or action on behalf of the insolvent

Question 3

Suit against third parties, other partners and firms

Right of third party against the firm

Rights of the partners to sue for the dissolution of the firm

Powers of the official receiver to bring suit or action on behalf of the insolvent

Question 4

On the death of a partner

On insolvency of any partner

On running into losses

If the business of the firm becomes unlawful due to the happening of some event

Question 5

Registration of firm is Mandatory

Non-registration of a firm is a criminal offence

Registration is not mandatory but non-registered firms are subject to some disadvantages

Registration of firm case availability of funds

Question 6

In all the cases and circumstances

If it is made in the ordinary course of business

When it is in the best interest of the firm

When there are reasons to believe such admission

Solution

Question 7

Right to reinstatement

Right to get back his share of profit and property in the firm

Both

None

Question 8

A dormant partner getting share of business profit from the firm

Lender of money sharing in the profit of the borrowers business

A minor son of a deceased partner getting annuity

An agent of the firm getting a part of business profits

Question 9

Miner

Person of unsound mind

Widower

Bachelor

Question 10

Elapse of six month from the date of filing applications

Settlement of accounts

Receipt of court order

$$31st$$ March of the following year

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Question Analysis

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