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Test: The Indian Partnership Act, 1932


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37 Questions MCQ Test Mercantile Law for CA CPT | Test: The Indian Partnership Act, 1932

Test: The Indian Partnership Act, 1932 for CA Foundation 2022 is part of Mercantile Law for CA CPT preparation. The Test: The Indian Partnership Act, 1932 questions and answers have been prepared according to the CA Foundation exam syllabus.The Test: The Indian Partnership Act, 1932 MCQs are made for CA Foundation 2022 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: The Indian Partnership Act, 1932 below.
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Test: The Indian Partnership Act, 1932 - Question 1

The most important element in partnership is:

Test: The Indian Partnership Act, 1932 - Question 2

The maximum number of partners is mentioned in

Test: The Indian Partnership Act, 1932 - Question 3

A firm is the name of:

Test: The Indian Partnership Act, 1932 - Question 4

In the absence of agreement to the contrary all partners are:

Test: The Indian Partnership Act, 1932 - Question 5

A minor is:

Test: The Indian Partnership Act, 1932 - Question 6

A partnership at will is one:

Test: The Indian Partnership Act, 1932 - Question 7

Active partner is one who:

Test: The Indian Partnership Act, 1932 - Question 8

Every partner has the right to:

Test: The Indian Partnership Act, 1932 - Question 9

Each of the Partner is__________________

Test: The Indian Partnership Act, 1932 - Question 10

A partner can retire on_____________

Test: The Indian Partnership Act, 1932 - Question 11

A partner can be expelled if _________________

Test: The Indian Partnership Act, 1932 - Question 12

Death of partner has the effect of ___________

Test: The Indian Partnership Act, 1932 - Question 13

Registration of a firm is____________

Test: The Indian Partnership Act, 1932 - Question 14

An unregistered firm cannot claim____________

Test: The Indian Partnership Act, 1932 - Question 15

On dissolution the partners remain liable until

Test: The Indian Partnership Act, 1932 - Question 16

Which of the following statements, about the registration of firm, is not true:

Test: The Indian Partnership Act, 1932 - Question 17

As per the accepted view, the registration of the firm is considered complete when.

Test: The Indian Partnership Act, 1932 - Question 18

Which of the following is not disability of an unregistered firm?

Test: The Indian Partnership Act, 1932 - Question 19

Which of the following is not the right of a partner i.e., which he cannot claim as a matter of right?

Test: The Indian Partnership Act, 1932 - Question 20

Which of the following acts are not included in the implied authority of a partner?

Test: The Indian Partnership Act, 1932 - Question 21

After retirement from firm, which of the following partners is not liable by holding out, even if the public notice of retirement is not given?

Test: The Indian Partnership Act, 1932 - Question 22

Which of the following statements is not true about minor’s position as a partner?

Test: The Indian Partnership Act, 1932 - Question 23

The reconstitution of the firm takes place in case

Test: The Indian Partnership Act, 1932 - Question 24

A new partner can be admitted in the firm with the consent of

Test: The Indian Partnership Act, 1932 - Question 25

A partner may retire from an existing firm

Test: The Indian Partnership Act, 1932 - Question 26

A partner may be expelled from the firm on the fulfillment of the condition that the expulsion power is exercised.

Test: The Indian Partnership Act, 1932 - Question 27

A partnership firm is compulsorily dissolved where

Test: The Indian Partnership Act, 1932 - Question 28

On which of the following grounds, a partner may apply to the court for dissolution of the firm?

Test: The Indian Partnership Act, 1932 - Question 29

Suppose you have entered into a partnership agreement with me and the partnershipdeed provides neither for the duration nor for the determination of our partnership.What is the technical expression for this kind of partnership?

Test: The Indian Partnership Act, 1932 - Question 30

A partnership at will is one

1 . Duration not fixed

2 . Duration fixed

3 . Dissolved at any time

4 . Can be dissolved only on the happening of an event

Test: The Indian Partnership Act, 1932 - Question 31

The position of a minor in a partnership firm is to be determined taking into account

1 . The Indian Contract Act, 1872

2 . The Indian Partnership Act, 1932

3 . Minor’s agreement

4 . The Majority Act, 1875

Test: The Indian Partnership Act, 1932 - Question 32

Which of the following statement is not true about minor’s position as a partner

1 . He cannot become a full fledged partner in a new firm

2 . He can become a full fledged partner in an existing firm

3 . He has to bear all liabilities like other partners

4 . He can become a partner on becoming a major

Test: The Indian Partnership Act, 1932 - Question 33

Which of the following is not an essential feature of partnership?

1 . Agreement

2 . Registration

3 . Test of Mutual Agency

4 . Separate Legal Entity

Test: The Indian Partnership Act, 1932 - Question 34

X agrees with Y to carry passengers by taxi from Delhi to Gurgaon on the following terms, namely, Y is to pay X Rs. 100 per mile per annum, and X and Y are to share the costs of repairing and replacement of the cars, and to divide equally between them the proceeds of fares received from passengers. Choose the correct alternative.

Test: The Indian Partnership Act, 1932 - Question 35

X and Y purchase 10,000 bags of cement, which they agree to sell for their joint account.The relation between X and Y is

Test: The Indian Partnership Act, 1932 - Question 36

X agrees with Y who is goldsmith to buy and furnish gold to Y, to be worked up by him and sold, and that they shall share in the resulting profit or loss. The contract between X and Y is that of

Test: The Indian Partnership Act, 1932 - Question 37

X and Y agree to work together as carpenters but X shall receive all profit and shall pay wages to Y. The relation between X and Y is that

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