Test: Relations Of Partners- 1


30 Questions MCQ Test Business Laws for CA Foundation | Test: Relations Of Partners- 1


Description
This mock test of Test: Relations Of Partners- 1 for CA Foundation helps you for every CA Foundation entrance exam. This contains 30 Multiple Choice Questions for CA Foundation Test: Relations Of Partners- 1 (mcq) to study with solutions a complete question bank. The solved questions answers in this Test: Relations Of Partners- 1 quiz give you a good mix of easy questions and tough questions. CA Foundation students definitely take this Test: Relations Of Partners- 1 exercise for a better result in the exam. You can find other Test: Relations Of Partners- 1 extra questions, long questions & short questions for CA Foundation on EduRev as well by searching above.
QUESTION: 1

 A third party deals with the firm without knowledge that Mr. X has been expelled from the firm. In such a case, Mr. X ________:

Solution:
QUESTION: 2

A third party is not affected by the limitation of implied authority unless he has actual notice of it:

Solution:
QUESTION: 3

Retiring partner continues to be liable for acts for the firm done:

Solution:
QUESTION: 4

A partner may retire from an existing firm_______:

Solution:
QUESTION: 5

Partnership property vests : 

Solution:
QUESTION: 6

 A, B, C are partners where C is a sleeping partner who retries without giving a public notice. Which of the following is/are true?

Solution:
QUESTION: 7

An irregularly expelled partner has :

Solution:
QUESTION: 8

 In case of transfer of partner’s interest u/s 29, the transferee is entitled to interfere with the conduct of the business:

Solution:
QUESTION: 9

Ravi, a partner of a firm, borrows money on his own credit by giving his own promissory note for the same, but he subsequently uses the proceeds of the note in the partnership concern of his own free will without any reference to the lender to do so. Which of the following is/are true?

Solution:
QUESTION: 10

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

Solution:
QUESTION: 11

 As per section 29 of the Indian Partnership Act, 1932 a partner may transfer his interest in the firm _______:

Solution:
QUESTION: 12

 A change in nature of business can be effected only by : 

Solution:
QUESTION: 13

Expulsion of a partner which is not in accordance with the provisions of Section 33 of the Indian Partnership Act, 1932 is ________: 

Solution:
QUESTION: 14

The implied authority of a partner in a firm does not empower him to :

Solution:
QUESTION: 15

 The test of good faith is provided under Section 33 (1) of the Indian Partnership Act, 1932 requires the following : 

Solution:
QUESTION: 16

 Under the Indian Partnership Act, 1932, in the absence of an agreement, a partner is: 

Solution:
QUESTION: 17

When are the assets and liabilities of a firm revalued: 

Solution:
QUESTION: 18

Reconstitution of firm takes place in case of: 

Solution:
QUESTION: 19

The implied authority of any partner may be: 

Solution:
QUESTION: 20

 In the absence of any agreement to share the profit or losses of a firm’s business, profits or loses of the firm are shared by the partner’s: 

Solution:
QUESTION: 21

Every partner of a partnership firm has a right to take part in the Conduct of business of the firm.

Solution:
QUESTION: 22

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

Solution:
QUESTION: 23

A retiring partner does not have the following except: 

Solution:
QUESTION: 24

By transfer of a partner’s interest for share:

Solution:
QUESTION: 25

Share in Partnership can be transferred by consent of _______ the partner

Solution:
QUESTION: 26

 In case of emergency, all rational acts of partner will bind the firm whether they were within the implied authority or not:

Solution:
QUESTION: 27

An act of a partner for acquiring an immovable property on behalf of the firm is within the provision of _____________ authority under the Indian Partnership Act, 1932.

Solution:
QUESTION: 28

When a partner in a firm is adjudicated as insolvent as per the Indian partnership Act, 1932, he ceases to be a partner:-

Solution:
QUESTION: 29

Premium paid by a partnership firm on the Joint Life Policy of partners is 

Solution:
QUESTION: 30

The heirs of the deceased partner:

Solution:

Related tests