Test: Relations Of Partners- 3


30 Questions MCQ Test Mercantile Law for CA CPT | Test: Relations Of Partners- 3


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QUESTION: 1

A firm on the expulsion of a partner is ______ under Indian Partnership Act, 1932.

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QUESTION: 2

Robert, who is a sleeping partner in the firm wanted to inspect the books of accounts of the partnership firm due to certain allegations of financial impropriety by some of the partners. The other partners in the firm objected to the same and denied access to books of accounts. The action of the other partners is -----------.

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QUESTION: 3

If a partner is expelled because of personal issues by majority of the partners it is________.

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QUESTION: 4

The balance of Joint Life Policy Account of Partners in a firm show:

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QUESTION: 5

According to the Indian Partnership Act, 1932. the term act of the firm means an act or omission by ___________ which gives an enforceable right to or against the firm:

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QUESTION: 6

Right of a partner to open a bank account in his own name on behalf of the firm is covered by:

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QUESTION: 7

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

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QUESTION: 8

The partner of the firm can be expelled from the firm with the consent of:

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QUESTION: 9

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

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QUESTION: 10

Change in constitution of firm takes place in following cases except:

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QUESTION: 11

The liability of the new partner in the firm:

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QUESTION: 12

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

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QUESTION: 13

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

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QUESTION: 14

Retiring partner is entitled to profit of the firm:

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QUESTION: 15

In case of ___________ the continuing guarantee given to the partnership in respect to the transactions of the firm, is revoked for the future transactions.

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QUESTION: 16

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

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QUESTION: 17

The relationship of principal and agent may arise by:

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QUESTION: 18

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?

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QUESTION: 19

The heirs of the deceased partner:

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QUESTION: 20

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

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QUESTION: 21

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

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QUESTION: 22

A partner may retire from an existing firm_______:

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QUESTION: 23

The estate of a partner who dies, is not liable u/s 45 for acts done after the date on which he ceases to be a partner. This statement is …………..:

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QUESTION: 24

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

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QUESTION: 25

Partner shall indemnify the Firm for any loss caused to it by his ______ in the conduct of the firm’s business:

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QUESTION: 26

Every partner has a right to:

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QUESTION: 27

A minor admitted to the benefits of the partnership cannot file a suit for his share of profits or property of the firm, except: 

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QUESTION: 28

Which of the following is not covered by the term “ Property of the firm”

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QUESTION: 29

Mini was a partner in a firm. The firm ordered goods in Mini’s life time, but delivery was not made until after Mini’s death. The supplier of the goods claims to be paid out of Mini’s estate. Advise Mini’s representatives:

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QUESTION: 30

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

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