| 1 |
A partner who takes an active part in the managment of the firm is called. |
- A. Active partner
- B. Sleeping partner
- C. Norminal partner
- D. Quasi partner
|
| 2 |
Interest on drawing is debited to. |
- A. Partners capital accounts
- B. Profit and loss account
- C. Interest account
- D. None of these
|
| 3 |
Maximum numebr of the partners in an ordinary Partinership. |
- A. Ten partners
- B. Twentry partners
- C. Thirty partners
- D. Fourth partners
|
| 4 |
A person whoinvest the minor portion of capital in the business and so he has small share in the profit is called. |
- A. Senior partner
- B. Junior partner
- C. quast partner
- D. Nominal patner
|
| 5 |
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
|
| 6 |
Partnership is formed by the partners. |
- A. Written agreement
- B. Mutual consent
- C. Verbal agreement
- D. None of these
|
| 7 |
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
|
| 8 |
The investment in partners capital accounts is to be credited to. |
- A. Partners capital accounts
- B. Profit and loss account
- C. Interest account
- D. None of these
|
| 9 |
In case of banking business, the numerb of persons must not exceed. |
- A. Ten (10)
- B. Twenty (20)
- C. Tweinty five(25)
- D. Fifty (50)
|
| 10 |
The agreement among the partners which sets out the term is which they have agreed to form a partnership is called. |
- A. Partnership deed
- B. Aribtrartio clause
- C. Partnership at will
- D. None of these
|
