Q.23:- What are the fees attached to documents submitted to the Registrar of Firms or to be paid for the inspection of documents in the custody of the Registrar of Firms or for copies of the Register of Companies: 8. A partnership is (a) a legal entity separate from its partner (b) not a legal entity independent of its partner (c) a legal entity (d) None of the more than 7. In which of the following cases is there no partnership? I. Lenders of funds receiving profits II. Agents or agents receiving profits III. Widow or child of a deceased person receiving profits. HVO Seller of goodwill receiving profits (a) I, II and III b) I, II and IV (c) II, III and IV d) All of the above A partnership is a type of business where two or more people come together to form and manage a business with the intention of making and sharing profits. Q.28: – Under what conditions a person may be considered a partner through estoppels or participations: A partner who is entitled to a share of the profits of a partnership is known as: 16. A partnership for which no period or duration is specified under the Partnerships Act of 1932, known as (a) General Partnership (b) Partnership at Will (c) Special Partnership (d) Co-ownership 6.

What is the written partnership agreement?: 10. What types of partnerships do not have an agreement regarding the duration of the partnership? 6. In which of the following cases a partnership exists: (a) Several persons jointly acquire items for resale in order to share the profits of the enterprise. b) Persons (co-owners) who participate in the purchase of property in order to divide the property themselves. (c) A.B and C agreed that each should provide R. Goods worth 3000 to be shipped as part of a joint venture, the profits will be distributed among them according to the amount of their various shipments (d) Two tenants of a house together and distribute the rent equally on Q.18:- If a partner has paid a premium for the conclusion of a fixed-term company and the company is dissolved before the expiry of this period other than by the death of a partner, whether or not the refund of the premium is authorized: 45. If a minor who has been admitted to the partnership becomes a partner at the age of majority, his personal liability begins: (a) the date of his first admission to use the partnership (b) the date of majority if he continues in the partnership (c) The date set by all the partners (d) Only his assets or contributions to the partnership are allowed 7. No partnership agreement, what will be the percentage of profit sharing between them? (a) Unequal (b) Equal (c) It depends on the experience of a partner (d) It depends on the capital of a partner from the age of 25. An affiliate does not have the implied power (a) to enter into a partnership with other persons of another company(b) to borrow money in the case of a trading company (c) either (a) or (b) (d) or (a) or (a) or (b) 21.

The goodwill of a partnership is owned by the partnership (a) In accordance with Article 14(b) In accordance with Article 13(c) In accordance with Article 12(d) Under Article 11, limited liability companies were introduced by what Act of Parliament? 20. The most important gesture of a “partnership at will” is: (a) Loss sharing (b) unrequired registration (c) ease of resolution (d) maximum transparency 8. What is not a feature of a partnership company? 11. If a partnership is incorporated on a fixed deadline and at the end of that period the company continues to operate without agreement A) the partnership is extended until the new agreement is entered into B) The partnership becomes an unlimited partnership C) The company becomes illegal D) the company is dissolved on the day of the expiry of the term and it cannot be said, that there is a partnership 2. What type of agreement is used to form a partnership company? 17. Which of the following conditions is not an essential condition for the establishment of a partnership within the meaning of section 4 of the Partnership Act? (a) An agreement to sue an enterprise (b) profit sharing (c) allocation of losses (d) transfer of business to be transferred by all or one of them acting for all 27. The landmark case establishing the test for establishing the existence of a partnership is (a) Grave v. Smith b)Bloream v. Pell v. Mingh v. Carver d) Auto v.

Hickman Q.16: – If a Partner intentionally or persistently violates agreements relating to the management of the Company`s affairs or the conduct of its affairs, or otherwise behaves in matters related to the Company in such a way that it is not reasonably possible for the other Partners to continue the business in partnership with it. The other partner(s) can: 9. What type of partnership does a partner have an unlimited number and are the other partners restricted? 15. The manner of determining the existence of a partnership has been set out in (a) Article 5(b) Article 6(c) Article 9(d) Article 10 It may be formed with at least two natural or legal persons by their candidates Q.31: – Consideration is a must for any contract. The partnership is also a legally enforceable agreement, so it is also a contract to sue the business profitably. Is an essential counterpart to the formation of a contract essential to the formation of the partnership Can a Community Interest Corporation (CIC) be established as one of the following persons? Q.19: – If a partner after the dissolution of the partnership, operate the business under the former corporate name of the company 6. What is the written partnership agreement known as: (a) Partnership Agreement (b) Agreement (c) Partnership Act (d) Partnership Law 3. What is an all-you-can-go partnership? (a) Established on the basis of a will of the testator (b) Created with the consent of all partners (c) Partnership without provision for the duration (d) None of the above 1. To start a partnership company, what should be the minimum number of partners? 2. Do you indicate which of the statements is true? (a) The Partner is a representative of the Company (b) the Partner is the owner of the Company (c) the Partner is a director of the Company (d) None of the 29 above.

The goodwill of the company business is owned by the company pursuant to (a) section 14(b) section 16(c) section 15(d) section 17(b)33. A minor admitted to partnership benefits under section 30(5) of the Indian Partnership Act after obtaining the age of majority must exercise the option to remain or leave the Partnership in (a) one month after reaching the age of majority (b) six months after reaching the age of majority (c) 90 days after reaching the age of majority (d) none of the above 9. A partner may retire by notifying his intention to retire if (a) the partnership is at will (b) the partnership is valid for a certain period of time (c) if a contract has been concluded between the partners for its purpose (d) none of the above Q.37: – If the company deed is silent, the following statement is NOT correct: 19. Which of the following options is a valid partnership? (a) Partnership between two partnerships (b) Partnership between a partnership and an individual (c) Partnership between individual members of a firm and individual members of another firm (d) Neither (a) nor (b) nor (c). Q.3: – If no contractual provision is made between the partners for the duration of their partnership or for the determination of their partnership, the company is designated as follows: 5. Which of the following is a strong but insufficient test for the partnership (a) profit sharing (b) loss allocation (c) nor any of the two (d) any of the above resolutions refer to the end of the legal or contractual relationship between the partners of a company. Section 39 of the Indian Partnership Act states that “the dissolution of a partnership between all the partners of a company shall be called the dissolution of the partnership”. The law defines the conclusion or complete termination of the partnership relationship.

Q.29: – M/s XYZ is a partnership company and X, Y and Z are the partners. During the business trips, Partner X received a sum of Rs. 15000 in cash from the company`s debtor and funds in his personal bank account. The plot of X will be as follows: 9. What type of partnership does one partner have unlimited and does another partner have limited liability? (a) Unlimited partnership (b) Limited partnership (c) General partnership (d) Special partnership 46. Based on the following, what is not the correct statement about “partner retirement”? (a) A Partner may retire with the consent of all other Partners (b) A Partner may retire with the express consent of the Partners (c) A Partner may retire with the consent of another Partner (d) If the Partnership exists at will, a Partner may retire by notifying all other Partners in writing of its intention, to retire at age 22. If a partner decides to use the assets of the partnership for his own purposes, this will result in (a) the civil liability of the partner (b) the criminal liability of the partner (c) both (a) and (b) (d) either (a) or (b) this latest offer of Oswaal Books is developed by “Oswaal Panel of Experts”. Oswaal Books strongly believes in ease of learning. In order to ensure student-friendly but highly exam-oriented content, we develop our panel of experts with care.

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