Law of Partnership Act Quiz

1. The Partnership Act, 1932 deals with_____?

Correct! Wrong!

2. The partnership Act, 1932 came into force on______?

Correct! Wrong!

3. Partnership is the relation between persons who have agreed to share the profits of a business carried on by_____acting for all?

Correct! Wrong!

4. In order that persons may become partners, it is essential that_______?

Correct! Wrong!

5. Which of the following are the essentials of partnership?

Correct! Wrong!

6. Persons who have entered into partnership with one another are called individually______?

Correct! Wrong!

7. Persons who have entered into partnership with one another are collectively called______?

Correct! Wrong!

8. The name under which partnership business in carried on is called_______?

Correct! Wrong!

9. A firm is the name of_______?

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10. Partnership firm is separate legal entity apart of its partners?

Correct! Wrong!

11. A partnership firm cannot use the word “Limited” as a part of its name.

Correct! Wrong!

12. Partnership is governed by Partnership Act, 1932. Whereas a company is Governed by______?

Correct! Wrong!

13. Registration of partnership is not compulsory but registration of company is_______?

Correct! Wrong!

14. Minimum two persons are required to from partnership but minimum numbers of member required to from a company are; in case of private company____& in case of public company_____?

Correct! Wrong!

15. Affairs of company are managed by____?

Correct! Wrong!

16. A change in the nature of the business can only be brought about by the consent of_____?

Correct! Wrong!

17. Where a partnership firm is formed for a particular undertaking or undertakings, it proceeds to carry on other undertaking or undertaking, in that event the mutual_______of the partners in respect of the other adventures or undertakings are the same as those in respect of the original adventures of undertaking.

Correct! Wrong!

18. Personal who do not invest or participate in the management of the firm but only give their name to the business or firm are known as_____?

Correct! Wrong!

19. A partner who is entitled to share in the profits of a partnership firm without being liable to share the losses, is called a______?

Correct! Wrong!

20. Which of the following partner can retire without giving public notice?

Correct! Wrong!

21. When a partner of a firm agrees to share the own share of profit with an outside, it called______?

Correct! Wrong!

Law of Partnership Act Quiz

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