Admission of a Partner Test

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Admission of a Partner Test - 28

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Weekly Quiz Competition

Question 1
1 / -0

_______ can be described as the sum of those intangible attributes or benefits enjoyed by the enterprise which contributes to its success.

A
Research and Development

B
Goodwill

C
Deferred revenue expenditure

D
Intangible assets
Question 2
1 / -0

__________ can be coparcener in a HUF but not a partner in a partnership firm.

A
Illiterate person

B
Newly born child

C
Female person

D
Unmarried person
Question 3
1 / -0

X is partner of XYZ Associates,despite no provision in the agreement he claims remuneration from the firm. How much remuneration he is entitiled to ______________.

A
@ Rs.15,000 PM

B
@ Rs.20,000

C
NIl

D
@ Rs.10,000
Question 4
1 / -0

Which of these is found in a partnership firm but not in a company.

A
Partners

B
Share capital

C
Business

D
profit/loss
Question 5
1 / -0

A partnership firm differ from a corporate body in which of these ways ___________.

A
unlimited liability of partners

B
limit on number of partners of a firm

C
non-transferability of share

D
all the three
Question 6
1 / -0

Which of these is/are a drawback of a partnership firm as compared to a corporate body.

A
limited capital

B
restrictions on number of patterns

C
no separate identity

D
all the three
Question 7
1 / -0

Select the true statement.

A
A partnership firm cannot enter into a partnership with another firm

B
Sharing of profit is the real testof partnership

C
A lender of money receiving a part of profit of the firm is a partner

D
Partnership is a creation of statute

Solution

(A) A partnership firm cannot enter into a partnership with another firm.
Explanation :- This is because a firm is not a separate legal entity.
Question 8
1 / -0

X a partner has given some advance to the firm,the partnership agreement is silent, at what rate interest on advances given by the partners would be allowed _________________.

A
$$@ 8%$$

B
$$@ 10%$$

C
$$@ 6%$$

D
Nil
Question 9
1 / -0

Which of these statement is correct one?

A
There can be a valid partnership between a Karta of a Joint Hindu family and a coparcener who contributed his managerial labor and skill

B
Sharing of profit is a conclusive test of partner-ship

C
A partnership firm can enter into contract with another partnershipfirm

D
Members of a Joint Hindu family are agent of each other
Question 10
1 / -0

A partnership firm is entitled to enter into a partnership with _____________.

A
another firm

B
Hindu undivided family

C
a company

D
neither (a) nor (b) nor (c)

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Re-Attempt Weekly Quiz Competition

Admission of a Partner Test - 28

Result

Admission of a Partner Test - 28

Score

-

Rank

-

SHARING IS CARING

Question 1

Research and Development

Goodwill

Deferred revenue expenditure

Intangible assets

Question 2

Illiterate person

Newly born child

Female person

Unmarried person

Question 3

@ Rs.15,000 PM

@ Rs.20,000

NIl

@ Rs.10,000

Question 4

Partners

Share capital

Business

profit/loss

Question 5

unlimited liability of partners

limit on number of partners of a firm

non-transferability of share

all the three

Question 6

limited capital

restrictions on number of patterns

no separate identity

all the three

Question 7

A partnership firm cannot enter into a partnership with another firm

Sharing of profit is the real testof partnership

A lender of money receiving a part of profit of the firm is a partner

Partnership is a creation of statute

Solution

Question 8

$$@ 8%$$

$$@ 10%$$

$$@ 6%$$

Nil

Question 9

There can be a valid partnership between a Karta of a Joint Hindu family and a coparcener who contributed his managerial labor and skill

Sharing of profit is a conclusive test of partner-ship

A partnership firm can enter into contract with another partnershipfirm

Members of a Joint Hindu family are agent of each other

Question 10

another firm

Hindu undivided family

a company

neither (a) nor (b) nor (c)

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