Admission of a Partner Test

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Admission of a Partner Test - 29

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Weekly Quiz Competition

Question 1
1 / -0

A partnership can be of which of these types _______________.

A
a general partnership

B
a particularpartnership

C
either (a) or (b)

D
only (a) and not (b)
Question 2
1 / -0

Mutual agency among the partner _________________.

A
a test to determine the existence of a partnership

B
a legal incidened of partnership

C
both (a) and (b)

D
neither (a) nor (b)
Question 3
1 / -0

A partnership firm is _______.

A
a distinct legal entity from its partners

B
not a distinct legal entity from its partners

C
a juristic person

D
none of these
Question 4
1 / -0

Select the odd one:

A
To transfer immovable property

B
To withdraw a suit or proceeding on behalf of the firm

C
To enter partnership on behalf of the firm

D
To employ staff on behalf of the firm
Question 5
1 / -0

Any act or omission, to be an act of a firm, within the meaning of section 2(a) of the Indian Partnership Act, 1932 must be act or omission of ___________________.

A
all the partners

B
any of the partner

C
agent of the firm

D
either (a) or (b) or (c)
Question 6
1 / -0

Are partners free to decide their mutual right, duties and liabilities ___________________.

A
Yes,without any restriction

B
Not at all

C
Yes, subject to the provisions of Partnership Act

D
Yes, without restriction but with majority decision
Question 7
1 / -0

Partnership firm is liable for the acts of the firm done ______________.

A
in firms name

B
with the concurrence of all the partners

C
with the concurrence of majority partners

D
mentioned in partnership deed only
Question 8
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Which of these statement is correct?

A
Powers of an official receiver/assignee/court are not effected by non-registration of a firm

B
Sub-partner has all the rights and duties which are available to other partners

C
Nominal partner is not required to give notice of his retirement

D
Dormant partner is required to give notice of his retirement

Solution

As per Section 69 (3) of the Indian Partnership Act, 1932, the provisions of sub-sections (1) and (2) shall apply also to a claim of set-off or other proceeding to enforce a right arising from a contract, but shall not affect-
(a) the enforcement of any right to sue for the dissolution of a firm or for accounts of a dissolved firm, or any right or power to realise the property of a dissolved firm, or

(b) the powers of an official assignee, receiver or Court under the Presidency-towns Insolvency Act, 1909 (3 of 1909) or the Provincial Insolvency Act, 1920 (5 of 1920) to realise the property of an insolvent partner.
Question 9
1 / -0

Where a partnership firm is constituted for a fixed period and after the expiration of that term, the firm continues to carry on business, without any new agreement, then _______.

A
the partnership stands extended till the new agreement is made

B
the partnership becomes partnership at will

C
the partnership becomes illegal

D
the partnership stands dissolved on the date of expiry of the term and no partnership can be said to be in existence

Solution

As per the provision of section 7 of the Indian partnership act, the partnership shall be taken to be a partnership at will if it is continued after the expiry of the fixed term for which it is formed.
Question 10
1 / -0

Chotu a minor partner become a major on 15th August 2012 but claims that has no knowledge of him being admitted as a partner after attaining the age of majority.The onus of proving so is upon _______________.

A
firm

B
Chotu the minor partner itself

C
managing partner of the firm

D
none of these

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Re-Attempt Weekly Quiz Competition

Admission of a Partner Test - 29

Result

Admission of a Partner Test - 29

Score

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Rank

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SHARING IS CARING

Question 1

a general partnership

a particularpartnership

either (a) or (b)

only (a) and not (b)

Question 2

a test to determine the existence of a partnership

a legal incidened of partnership

both (a) and (b)

neither (a) nor (b)

Question 3

a distinct legal entity from its partners

not a distinct legal entity from its partners

a juristic person

none of these

Question 4

To transfer immovable property

To withdraw a suit or proceeding on behalf of the firm

To enter partnership on behalf of the firm

To employ staff on behalf of the firm

Question 5

all the partners

any of the partner

agent of the firm

either (a) or (b) or (c)

Question 6

Yes,without any restriction

Not at all

Yes, subject to the provisions of Partnership Act

Yes, without restriction but with majority decision

Question 7

in firms name

with the concurrence of all the partners

with the concurrence of majority partners

mentioned in partnership deed only

Question 8

Powers of an official receiver/assignee/court are not effected by non-registration of a firm

Sub-partner has all the rights and duties which are available to other partners

Nominal partner is not required to give notice of his retirement

Dormant partner is required to give notice of his retirement

Solution

Question 9

the partnership stands extended till the new agreement is made

the partnership becomes partnership at will

the partnership becomes illegal

the partnership stands dissolved on the date of expiry of the term and no partnership can be said to be in existence

Solution

Question 10

firm

Chotu the minor partner itself

managing partner of the firm

none of these

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