Steps involved in Establishing Business Test 1

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Steps involved in Establishing Business Test 1

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SHARING IS CARING

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Weekly Quiz Competition

Question 1
1 / -0

A sub-partner is a person ____________.

A
who is sharing the profits of some partner

B
who does not invest and shares the profits

C
who invests but does not work

D
who only gives his name for partnership
Question 2
1 / -0

XYZ partnership firm is a partnership firm between A and B. C posed that he is a partner in XYZ and earned profits from the market. C will be regarded as ______________.

A
holding out partner

B
dormant partner

C
nominal partner

D
none of the above
Question 3
1 / -0

Partnership at will can be dissolved by any partner by ___________.

A
communicating with the principal

B
not allowed

C
giving due notice to that effect to all other partners

D
all of the above
Question 4
1 / -0

Which of the following statements is true?

A
Two or more companies cannot enter into a contract of partnership

B
Two or more partnership firms can enter into a new contract of partnership

C
A married woman can be a partner of her husband

D
Two or more Joint Hindu Families cannot enter into a contract of partnership
Question 5
1 / -0

Retiring Partner continues to be liable for acts of the Firm done __________.

A
upto the date of admission of a new Partner.

B
upto the date of giving public notice of retirement.

C
upto the close of the financial year in which he retires.

D
all of the above.
Question 6
1 / -0

At the time of dissolution of partnership the main account to be looked would be __________.

A
salary

B
revaluation

C
drawings

D
realization
Question 7
1 / -0

Following persons can not be called partners ____________________.

A
Minors

B
Insolvents

C
Co-owners without the agreement to carry in the business

D
All of the above
Question 8
1 / -0

Which one of the following can not be claimed as a matter of right by a partner?

A
To have access to books of account

B
To take part in the conduct of the business

C
To share the profits

D
To receive remuneration
Question 9
1 / -0

At the time when a new partner enters, goodwill __________________.

A
belongs all partners, new and old

B
belongs only to the new partner who is going to be admitted

C
belongs only to the old partner who have credited it

D
none of the above
Question 10
1 / -0

Date of compulsory dissolution for Partnership firm is the ________.

A
date of order of court

B
date of applying for court

C
date when firm closes its business

D
none of the above

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Re-Attempt Weekly Quiz Competition

Steps involved in Establishing Business Test 1

Result

Steps involved in Establishing Business Test 1

Score

-

Rank

-

SHARING IS CARING

Question 1

who is sharing the profits of some partner

who does not invest and shares the profits

who invests but does not work

who only gives his name for partnership

Question 2

holding out partner

dormant partner

nominal partner

none of the above

Question 3

communicating with the principal

not allowed

giving due notice to that effect to all other partners

all of the above

Question 4

Two or more companies cannot enter into a contract of partnership

Two or more partnership firms can enter into a new contract of partnership

A married woman can be a partner of her husband

Two or more Joint Hindu Families cannot enter into a contract of partnership

Question 5

upto the date of admission of a new Partner.

upto the date of giving public notice of retirement.

upto the close of the financial year in which he retires.

all of the above.

Question 6

salary

revaluation

drawings

realization

Question 7

Minors

Insolvents

Co-owners without the agreement to carry in the business

All of the above

Question 8

To have access to books of account

To take part in the conduct of the business

To share the profits

To receive remuneration

Question 9

belongs all partners, new and old

belongs only to the new partner who is going to be admitted

belongs only to the old partner who have credited it

none of the above

Question 10

date of order of court

date of applying for court

date when firm closes its business

none of the above

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Question Analysis

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