Steps involved in Establishing Business Test 33

Result

Steps involved in Establishing Business Test 33

Score
-
out of -
Rank
-
out of -

TIME Taken - -

SHARING IS CARING

If our Website helped you a little, then kindly spread our voice using Social Networks. Spread our word to your readers, friends, teachers, students & all those close ones who deserve to know what you know now.

Weekly Quiz Competition

Question 1
1 / -0

Upon dissolution, the firm's assets shall be first applied in paying the debts of the firm to third parties, shall thereafter be applied in payment of partners loan, shall be applied in ___________.

A
In paying the debts of the firm to third parties

B
Payment of partners loan

C
Payment of partners capital

D
Distribution of surplus to partners in profit sharing ratio
Question 2
1 / -0

The Court may dissolve a firm if a partner _________ commits breach of agreements relating to management of the affairs of the firm or the conduct of the firm's business.

A
Wilfully

B
Persistently

C
Neither (A) nor (B)

D
Both (A) and (B)
Question 3
1 / -0

In settling the accounts of a firm after dissolution, losses, including deficiencies of capital, shall be paid _________________.

A
Out of profits

B
Out of capital

C
By the partners individually in the proportions in which they were entitled to share profits

D
First out of profits, next out of capital, and, lastly, if necessary, by the partners individually in the proportions in which they were entitled to share profits
Question 4
1 / -0

A, B, C are partners on death of B, A and C continue the firm's business. This is a case of ________.

A
Dissolution of partnership

B
Dissolution of firm

C
Death of partnership

D
All of the above
Question 5
1 / -0

Identify which of the following statement is true and which is false.
(I) The Court may dissolve a firm if a partner conducts himself in such a way that if is not reasonably practicable for the other partners to carry on business in partnership with him.
(II) If the firm has been continuously suffering losses and it is apparent that in future also the business cannot be carried on except at a loss, the Court cannot order dissolution of the firm
Select the correct answer from the options given.

A
(I)-True, (II)-False

B
(I)-False, (II)-False

C
(I)-False, (II)-True

D
(I)-True, (II)-True
Question 6
1 / -0

In which of the following case, the Court may, at the suit of a partner. dissolve a firm?

A
Partner wilfully and persistently commits breach of partnership agreement as management

B
Partner conducts himself in such a way that it is not reasonably practicable for the other partners to carry on business in partnership with him

C
The firm has been continuously suffering losses and in future also the business cannot be carried on except at a loss

D
All of the above
Question 7
1 / -0

In which of the following situations the firm will NOT be compulsorily dissolved?

A
All partners or any one of the partners is declared insolvent

B
The business of the firm become unlawful

C
The partnership has various adventures & one such adventure becomes illegal

D
The decision is taken by all the partners to dissolve the firm
Question 8
1 / -0

In which of the following case the dissolution of partnership takes place even when there is no dissolution of the firm?

A
By the retirement of a partner

B
By the insolvency of a partner

C
By the death of a partner

D
All of the above
Question 9
1 / -0

Firm may be dissolved :
A. With the consent of all the partners.
B. In accordance with the contract between them.
Select the correct the answer from the options given.

A
Neither A nor B

B
B only

C
Either A or B

D
A only

Solution

Option C is the correct answer.
Question 10
1 / -0

__________ rule is applicable at the time of any partner becoming insolvent.

A
Garner Vs Murray

B
Derry Vs Peek

C
Salmon Vs A. Salomon & Co. Ltd

D
Mohiri Bibi Vs Dhamodas Ghose

User

Question Analysis

Correct -
Wrong -
Skipped -

My Perfomance

Score
-
out of -
Rank
-
out of -

Re-Attempt Weekly Quiz Competition

Steps involved in Establishing Business Test 33

Result

Steps involved in Establishing Business Test 33

Score

-

Rank

-

SHARING IS CARING

Question 1

In paying the debts of the firm to third parties

Payment of partners loan

Payment of partners capital

Distribution of surplus to partners in profit sharing ratio

Question 2

Wilfully

Persistently

Neither (A) nor (B)

Both (A) and (B)

Question 3

Out of profits

Out of capital

By the partners individually in the proportions in which they were entitled to share profits

First out of profits, next out of capital, and, lastly, if necessary, by the partners individually in the proportions in which they were entitled to share profits

Question 4

Dissolution of partnership

Dissolution of firm

Death of partnership

All of the above

Question 5

(I)-True, (II)-False

(I)-False, (II)-False

(I)-False, (II)-True

(I)-True, (II)-True

Question 6

Partner wilfully and persistently commits breach of partnership agreement as management

Partner conducts himself in such a way that it is not reasonably practicable for the other partners to carry on business in partnership with him

The firm has been continuously suffering losses and in future also the business cannot be carried on except at a loss

All of the above

Question 7

All partners or any one of the partners is declared insolvent

The business of the firm become unlawful

The partnership has various adventures & one such adventure becomes illegal

The decision is taken by all the partners to dissolve the firm

Question 8

By the retirement of a partner

By the insolvency of a partner

By the death of a partner

All of the above

Question 9

Neither A nor B

B only

Either A or B

A only

Solution

Question 10

Garner Vs Murray

Derry Vs Peek

Salmon Vs A. Salomon & Co. Ltd

Mohiri Bibi Vs Dhamodas Ghose

User

Question Analysis

My Perfomance

Score

-

Rank

-

Results Announcement on: coming Monday

Stay Tuned: We’ll update you on your result via email or SMS.