| 1 |
The persons who have entered in partnership are collctive called. |
- A. A firm
- B. Agents
- C. Partners
- D. Promoters
|
| 2 |
Partnership is formed by the partners. |
- A. Written agreement
- B. Mutual consent
- C. Verbal agreement
- D. None of these
|
| 3 |
Current accout of the partners should be opened when the capitals are. |
- A. Fluctuating
- B. Fixed
- C. Either fixed or fluctuating
- D. Neither fixed or fluctuating
|
| 4 |
For the firm, interest on drawing is. |
- A. Expense
- B. Income
- C. Liability
- D. None of these
|
| 5 |
When the capitals of the partners arr not allowed to change during the life time of the business except in extra ordinary circumslancer then they are called. |
- A. Fluctuating capitals
- B. Fixed capitals
- C. Current capitals
- D. None of these
|
| 6 |
Maximum numebr of the partners in an ordinary Partinership. |
- A. Ten partners
- B. Twentry partners
- C. Thirty partners
- D. Fourth partners
|
| 7 |
Registraion of the firm. |
- A. It is legally necessary
- B. It is optional
- C. It depends on the will of the partners
- D. It depends uopon the will of theemployee
|
| 8 |
Investment in partnership is made byintroducing. |
- A. Cash
- B. Non cash assets
- C. Cash or non cash assets
- D. None of these
|
| 9 |
Interest on drawing is debited to. |
- A. Partners capital accounts
- B. Profit and loss account
- C. Interest account
- D. None of these
|
| 10 |
Current accoujts of the partners should be opened when the capital are. |
- A. Fixed
- B. Fluctuating
- C. Either fixed or fluctuating
- D. None of these
|
