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  • Question 1
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    To whom the property of the firm belongs?

  • Question 2
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    Identify which sentence is correct and which is incorrect.
    A. A sub-partner can bind the firm or other partners by his acts.
    B. Sub-partner has rights or duties towards the firm and does carry liability for the dents of the firm.
    C. Minor partner is entitled to his agreed share
    D. Minor can inspect books of account of the firm.
    Select the correct answer from the options given.

  • Question 3
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    Which of the following statement is incorrect as to a minor's position in a partnership firm?

  • Question 4
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    Property of the firm shall be held by use of the partners __________________.

  • Question 5
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    Failure by a minor to give public notice within 66 months will have the following effect ___________.

  • Question 6
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    In the absence of agreement, express or implied, the property of the firm is deemed to include _______________________________.

  • Question 7
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    Identify the incorrect sentence.

  • Question 8
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    Which of the following partners are not liable in relation to the firm?

  • Question 9
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    A and B entered into an agreement to carry on a business of manufacturing and selling toys. Each one of them contributed Rs. 3535 lakhs as their capital with a condition that A and B will share the profits equally, but the loss, if any is to be borne by A alone. Referring to the provisions of the Indian Partnership Act, 19321932 decide whether there exists a partnership between A and B.

  • Question 10
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    For admitting a minor into the benefits of the partnership, which of the following is required?

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