Practice Test

Q1) _________ persons are required to form a partnership firm. Show Answer

Q2) The minimum number of partners in a firm is _____________. Show Answer

Q3) The maximum number of partners in a firm is _____ Show Answer

Q4) The liability of a partner is ______. Show Answer

Q5) Each partner in a firm is ________ of other partner. Show Answer

Q6) Registration of partnership firm is _______ in Maharashtra. Show Answer

Q7) A person below the age of 18 years is called__________ partner. Show Answer

Q8) A____________ partner is one who neither contributes capital nor participate the management but permits the firm to use his name. Show Answer

Q9) Written agreement between partners is called _______. Show Answer

Q10) Partnership _________ is necessary to avoid future disputes among the partners. Show Answer

Q11) Partnership business must be _________. Show Answer

Q12) _________ Act 1932 is applicable to Indian Partnership firms. Show Answer

Q13) The partnership is an association of _____or ______ persons. Show Answer

Q14) The relation between partners is that of _________ or _________ persons. Show Answer

Q15) The partners in __________ share the profits and losses of the partnership. Show Answer

Q16) Partners terms and conditions of working of the firm are given in _________. Show Answer

Q17) Liability of minor partner is _______. Show Answer

Q18) A partner who shares profit only is known as ________. Show Answer

Q19) The person who forms the partnership is individually called _______. Show Answer

Q20) The liability of partner in general partnership is ______. Show Answer

Q21) All partners collectively called as _________. Show Answer

Q22) A dormant partner is one who _____. Show Answer

Q23) when a partner deals with a third party, he acts as ________. Show Answer

Q24) The capital bought in by partnership firm is _______ as compare to the capital brought in by a joint stock company. Show Answer

Q25) In India we have ___partnerships. Show Answer

Q26) ______ organisation has minimum two members. Show Answer

Q27) Registration of partnership has been made _______ with effect from April, 1985 in Maharashtra. Show Answer

Q28) A partners is reagarded to be ________ of a firm. Show Answer

Q29) For partenrship organisation, minimum ________ number of persons are required. Show Answer

Q30) Registration of partnership firm is ________ as per the Indian Partnership Act, 1932. Show Answer

Q31) The agreement signed between the partners is called ______. Show Answer

Q32) Partnership agreement can be verbal or written. Show Answer

Q33) All partnership in India are general partnership. Show Answer

Q34) The liability of a partner is limitied. Show Answer

Q35) A minor cannot be admitted as a partner in a partnership firm. Show Answer

Q36) Only special partners have right of management in the liability partnership. Show Answer

Q37) Registration of partnership firm is optional. Show Answer

Q38) Business secrecy cannot be maintained in partenrship Show Answer

Q39) All partner must have the share of profit in equal proportion. Show Answer

Q40) It is not compulsory to register a partnership firm in the state of Maharashtra. Show Answer

Q41) The maximum number of partners in an partnership firm is 200 Show Answer