Question # 1

The best form of a partnership deed is

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Verbal

Written

Written & registered

None of the above

Partnership business is formed under the partnership act

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1910

1922

1932

1990

The minimum number of partners in banking business are

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Ten

Twenty

Thirty

Fifty

Active partner in a partnership business

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Invests but doesn't take part in the business

Neither invests nor takes part in the business

Invests and takes part in the business

None of the above

Partnership business as compared to sole tradership

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More flexible

Less flexible

Not flexible

May be in all forms

At least how many partners should have a limited liability in a limited partnership:

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One

Two

Three

All

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

The partnership formed for any special project is called:

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Limited partnership

Particular partnersip

Partnership at will

All of these

A non-active partner in a partnership:

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Neither invests nor takes part in the business

Doesn't invest buttakes part in the business

Invests but doesn'ttake part in the business

None of the above

The first payment after dissolution of partnership is made to:

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Partners

Partners for their debts

External creditors

None of these

The minimum number of partnership in a partnership are

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Two

Four

Six

Ten

The partners who participate in the business but people don't know them are:

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Silent partners

Non active partners

Nominal partners

Active partner

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 Shirkat-ul-Anan the share holders/partners invest:

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Only cash

Cash and goods

Only goods

All are correct

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%

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

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