Question # 1

The minimum number of partnership in a partnership are

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Two

Four

Six

Ten

Partnership business is formed under the Partnership Act:

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1910

1922

1932

1990

If any partner is not in a position to compensate the business loss called:

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Retired partner

Active partner

Weak partner

Insolvent partner

Partnership deed can be:

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Written

Oral

Written & Registered

All are correct

In the absence of agreement, a partner receives on extra capital:

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Interest

No interset

More share in profit

Salary

Partnership business as compared to sole tradership is:

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More flexible

Less flexible

Not flexible

May be in all forms

Active partner in a partnership business:

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Invests but doesn'ttake part in the business

Neither invests nortakes part in the business

Invests andtakes part in the business

None of the above

In the absence of agreement, what will be the interest rate on extra capital of a partner

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4%

6%

10%

12%

When did the partnership business come into being

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1872

1880

1892

1902

If the court declares the bankruptcy of any partner in partnership firm

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The partnership continues

The partnership becomes weak

The partnership becomes cancels

A new partner is admitted

When did the partnership business come into being:

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1872

1880

1892

1902

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Principle of Commerce Icom Part 1 English Medium Chapter 4 Online Test MCQs With Answers

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