Admission of a Partner Test

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Admission of a Partner Test - 30

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Weekly Quiz Competition

Question 1
1 / -0

Which of the following is not the property of a partnership firm _________________.

A
Stock in trade

B
Ancestral property of a partner

C
Plant & Machinery

D
All rights.liabilities originally brought into the stock of the firm
Question 2
1 / -0

Property of a partnership firm cannot be held in the name of partnership firm because ______________________.

A
partnership firm is not a legal entity

B
it prohibited under the transfer of property Act

C
not allowed as per partnership Act

D
All the three reasons
Question 3
1 / -0

XYZ associates a partnership firm created for laying Metro line Phase I,however after completing phase I project the firm also carried out Metro work of phase II, the right ,duties and liability of the partners of XYZ associates for the additional adventure will _______________.

A
Be reworked

B
Remain same

C
Be vettled by registrar of firms

D
None of these
Question 4
1 / -0

Chotu minor partner attains age of majority on 15th August 2013 but fails to give notice of his remaining or non-remaining as a partner of the firm by 14th January 2014,what is his position after 15th January 2014 ________________.

A
he automatically becomes partner of the firm

B
can serve notice of not being a partner still within next six month

C
he still is a minor partner

D
none of thee
Question 5
1 / -0

The property of a firm is held in the name of ________________.

A
Senior most partners

B
Joint nae of all the partners

C
Managing partner

D
Partner having general power of attorney
Question 6
1 / -0

In the absence of any agreement to the contrary,property of the partnership firm includes ____________________.

A
All property originally brought into the stock of the firm

B
All rights and interest in any property so brought

C
Goodwill of the firm

D
All the three
Question 7
1 / -0

When a minor becomes partner of a firm after attaining age of majority,his share in the properties and profit of the firm _______________.

A
Remains same to which he was entitled as a minor

B
Re-determined

C
Equal to remaining partners

D
According to his capital
Question 8
1 / -0

Property of partnership firm is held jointly by all the partners on behalf of _________________.

A
Partnership firm

B
Senior partner

C
Managing partner

D
Founding partner
Question 9
1 / -0

Select the correct statement.

A
If the partnership agreement has restricted implied authority of a partner, the firm is still liable to the third party pf the act done by the partner

B
Mutual rights and liabilities of the partners are governed by the agreement between the partners

C
Partnership at will can be dissolved

D
All the three
Question 10
1 / -0

Goods worth Rs.2000 distributed as free sample, which A/c will be debited _________.

A
Trading A/c.

B
Profit and loss appropriation A/c.

C
Sale promotion expenses A/c.

D
Charity A/c.

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Re-Attempt Weekly Quiz Competition

Admission of a Partner Test - 30

Result

Admission of a Partner Test - 30

Score

-

Rank

-

SHARING IS CARING

Question 1

Stock in trade

Ancestral property of a partner

Plant & Machinery

All rights.liabilities originally brought into the stock of the firm

Question 2

partnership firm is not a legal entity

it prohibited under the transfer of property Act

not allowed as per partnership Act

All the three reasons

Question 3

Be reworked

Remain same

Be vettled by registrar of firms

None of these

Question 4

he automatically becomes partner of the firm

can serve notice of not being a partner still within next six month

he still is a minor partner

none of thee

Question 5

Senior most partners

Joint nae of all the partners

Managing partner

Partner having general power of attorney

Question 6

All property originally brought into the stock of the firm

All rights and interest in any property so brought

Goodwill of the firm

All the three

Question 7

Remains same to which he was entitled as a minor

Re-determined

Equal to remaining partners

According to his capital

Question 8

Partnership firm

Senior partner

Managing partner

Founding partner

Question 9

If the partnership agreement has restricted implied authority of a partner, the firm is still liable to the third party pf the act done by the partner

Mutual rights and liabilities of the partners are governed by the agreement between the partners

Partnership at will can be dissolved

All the three

Question 10

Trading A/c.

Profit and loss appropriation A/c.

Sale promotion expenses A/c.

Charity A/c.

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