Question # 1

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%

The partnership formed for any special project is called:

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Limited partnership

Particular partnersip

Partnership at will

All of these

Partnership business as compared to sole tradership is:

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More flexible

Less flexible

Not flexible

May be in all forms

Limited partnership is formed under Limited Partnership Act:

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1997

2007

2010

2017

Age of minor partner is:

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18 years

More than 18 years

Less than 18 years

None of these

The best form of a partnership deed is:

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Verbal

Written

Written and registered

None of the above

The liability of a partner in partnership is normally:

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Limited

Unlimited

Not at all

all 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

The maximum number of partners in banking business are:

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Ten

Twenty

Thirty

Fifty

When did the partnership business come into being:

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1872

1880

1892

1902

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

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One

Two

Three

Four

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

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