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Steps involved in Establishing Business Test 8

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Steps involved in Establishing Business Test 8
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Weekly Quiz Competition
  • Question 1
    1 / -0
    What is the real test of existence of a partnership
    Solution
    Option A is the correct answer.
  • Question 2
    1 / -0
    An association which is formed to promote art, cultural activities, etc is a ________ . 
    Solution
    An association which is formed to promote art, cultural activities rather than focusing on earning profits is known as Non-profit association. For example: Rotary club, as it does not aim at earning profits rather focuses on social welfare.
  • Question 3
    1 / -0
    ___________ is an association which does not aim at profit making.
    Solution
    Non-Profit association works only for the social welfare and to encourage high ethical behavior without focusing on earning profit. Its main focus is to maximize the benefit of members involved.
  • Question 4
    1 / -0
    Application for dissolution of a firm on the ground of permanent incapacity of a partner can be made by...
    Solution
    Option B is the correct answer.
  • Question 5
    1 / -0
    Indian Partnership Act defines business in...........
    Solution
    Option A is the correct answer.
  • Question 6
    1 / -0
    Which of the following is not the property of a partnership firm
    Solution
    Option B is the correct answer.
  • Question 7
    1 / -0
    A person not being a partner but represents himself to be a partner is called...........
    Solution
    Option B is the correct answer.
  • Question 8
    1 / -0
    Which of these rights are affected in case of an unregistered firm
    Solution
    Option A is the correct answer.
  • Question 9
    1 / -0
    A partner has an implied authority to bind the firm if he__
    Solution
    Option D is the correct answer.
  • Question 10
    1 / -0
    A minor person can......
    Solution
    Option B is the correct answer.
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