Steps involved in Establishing Business Test 9

Result

Steps involved in Establishing Business Test 9

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SHARING IS CARING

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Weekly Quiz Competition

Question 1
1 / -0

Profits and losses of a partnership firm are shared by the partners......

A
In the ratio of capital contributed

B
Equally

C
As per agreement

D
According to seniority

Solution

Option C is the correct answer.
Question 2
1 / -0

Which of the following statement is true

A
A firm is liable for wrong acts of a partner

B
An unregistered firm is an illegal organization

C
Sharing of profit or loss is a conclusive evidence of existence of a partnership

D
A person can be admitted as a partner with the consent of majority of persons

Solution

Option A is the correct answer.
Question 3
1 / -0

An act of the partner is ___________ upon other partners.

A
Binding

B
Optional

C
Binding upon active partner only

D
Binding upon dormant partner only

Solution

Option A is the correct answer.
Question 4
1 / -0

On death of a partner, the representative of the decease partners are entitled to share-profit from.......

A
Beginning of the financial year up to the date of death

B
From date of death to the date of finalization of A/c

C
For the full year

D
For six months

Solution

Option A is the correct answer.
Question 5
1 / -0

A partnership firm after exceeding the maximum limit of partners becomes a/an.

A
Corporate body

B
Illegal association of persons

C
Banned entity

D
Co-operative body

Solution

Option B is the correct answer.
Question 6
1 / -0

Which of these is not an essential element of a partnership

A
Holding a valid Indian passport

B
An agreement

C
Existence of business

D
Sharing of profit

Solution

Option A is the correct answer.
Question 7
1 / -0

Registrar of firm under section $$57$$ of the Partnership Act is a __________.

A
Honorary post

B
Public servant

C
Central Government officer

D
Trade representative

Solution

Option B is the correct answer.
Question 8
1 / -0

Registrar of firms under section $$57$$ of the Partnership Act is appointed by ________.

A
RBI

B
State Government

C
Trade associations

D
Local bodies

Solution

Option B is the correct answer.
Question 9
1 / -0

The amount due to deceased partner is paid to his...........

A
Friends

B
Wife

C
Executor

D
His father

Solution

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

_________ is one who becomes partner by an agreement and is actively engaged in the business of the firm.

A
Active partner

B
Dormant partner

C
Nominal partner

D
Outgoing partner

Solution

Option A is the correct answer.

User

Question Analysis

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Re-Attempt Weekly Quiz Competition

Steps involved in Establishing Business Test 9

Result

Steps involved in Establishing Business Test 9

Score

-

Rank

-

SHARING IS CARING

Question 1

In the ratio of capital contributed

Equally

As per agreement

According to seniority

Solution

Question 2

A firm is liable for wrong acts of a partner

An unregistered firm is an illegal organization

Sharing of profit or loss is a conclusive evidence of existence of a partnership

A person can be admitted as a partner with the consent of majority of persons

Solution

Question 3

Binding

Optional

Binding upon active partner only

Binding upon dormant partner only

Solution

Question 4

Beginning of the financial year up to the date of death

From date of death to the date of finalization of A/c

For the full year

For six months

Solution

Question 5

Corporate body

Illegal association of persons

Banned entity

Co-operative body

Solution

Question 6

Holding a valid Indian passport

An agreement

Existence of business

Sharing of profit

Solution

Question 7

Honorary post

Public servant

Central Government officer

Trade representative

Solution

Question 8

RBI

State Government

Trade associations

Local bodies

Solution

Question 9

Friends

Wife

Executor

His father

Solution

Question 10

Active partner

Dormant partner

Nominal partner

Outgoing partner

Solution

User

Question Analysis

My Perfomance

Score

-

Rank

-

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