CA Foundation Exam > CA Foundation Notes > Business Laws for CA Foundation > MCQ - Registration and Dissolution of firm - 2
MCQ - Registration and Dissolution of firm - 2 | Business Laws for CA Foundation PDF Download
| Download, print and study this document offline |
Please wait while the PDF view is loading
Page 1 CPT MERCANTILE LAW CHAPTER -3 THE INDIAN PARTNERSHIP ACT ,1932 CA. DIPTI LUNAWAT Registration and Dissolution of a Firm Unit 3 Part [3/4] Page 2 CPT MERCANTILE LAW CHAPTER -3 THE INDIAN PARTNERSHIP ACT ,1932 CA. DIPTI LUNAWAT Registration and Dissolution of a Firm Unit 3 Part [3/4] Questions Questions On Consequences of Dissolution Page 3 CPT MERCANTILE LAW CHAPTER -3 THE INDIAN PARTNERSHIP ACT ,1932 CA. DIPTI LUNAWAT Registration and Dissolution of a Firm Unit 3 Part [3/4] Questions Questions On Consequences of Dissolution Loss arising out of partner’s insolvency can be recouped from A] Solvent partners B] The firm itself C] Partner’s estate D] Partner’s Legal Heirs Ans: A Question No.1 Page 4 CPT MERCANTILE LAW CHAPTER -3 THE INDIAN PARTNERSHIP ACT ,1932 CA. DIPTI LUNAWAT Registration and Dissolution of a Firm Unit 3 Part [3/4] Questions Questions On Consequences of Dissolution Loss arising out of partner’s insolvency can be recouped from A] Solvent partners B] The firm itself C] Partner’s estate D] Partner’s Legal Heirs Ans: A Question No.1 Question No.2 After the dissolution of a firm, the authority of a partner to bind the firm: A] does not continue at all. B] continues so far as may be necessary to wind up the affairs of the firm . C] None of these Ans: B Page 5 CPT MERCANTILE LAW CHAPTER -3 THE INDIAN PARTNERSHIP ACT ,1932 CA. DIPTI LUNAWAT Registration and Dissolution of a Firm Unit 3 Part [3/4] Questions Questions On Consequences of Dissolution Loss arising out of partner’s insolvency can be recouped from A] Solvent partners B] The firm itself C] Partner’s estate D] Partner’s Legal Heirs Ans: A Question No.1 Question No.2 After the dissolution of a firm, the authority of a partner to bind the firm: A] does not continue at all. B] continues so far as may be necessary to wind up the affairs of the firm . C] None of these Ans: B Question No.3 A partners private assets shall be applied first in the payment of: A] Firm’s debts to third parties. B] Partner’s debts to third parties. C] Partner’s advance to third parties. D] None of these Ans: BRead More
|
51 videos|110 docs|57 tests
|
FAQs on MCQ - Registration and Dissolution of firm - 2 - Business Laws for CA Foundation
| 1. What is the process of registration of a firm? |  |
Ans. The process of registration of a firm involves the following steps:
1. Choose a suitable name for the firm.
2. Prepare a partnership deed, which includes details like the name and address of partners, profit sharing ratio, capital contribution, etc.
3. Submit the partnership deed along with the application for registration to the Registrar of Firms.
4. Pay the prescribed fee for registration.
5. The Registrar will verify the documents and if satisfied, will enter the firm's details in the Register of Firms.
6. Once registered, the firm will be issued a Certificate of Registration.
| 2. What are the requirements for the dissolution of a firm? | |
Ans. The requirements for the dissolution of a firm are as follows:
1. Mutual Agreement: All the partners must mutually agree to dissolve the firm.
2. Dissolution as per Partnership Deed: The partnership deed may specify the conditions and procedures for dissolution. The partners must follow these provisions.
3. Notice to Third Parties: The partners must give public notice of the dissolution to avoid any liabilities with third parties.
4. Settle Debts and Liabilities: The partners must settle all the debts and liabilities of the firm before dissolution.
5. Distribution of Assets: After settling the debts, the remaining assets should be distributed among the partners as per their profit sharing ratio.
6. Cancellation of Registration: The partners should apply for the cancellation of the firm's registration with the Registrar of Firms.
| 3. Can a firm be registered with a name that is already in use by another firm? | |
Ans. No, a firm cannot be registered with a name that is already in use by another firm. The name of a firm should be unique to avoid confusion and legal issues. The Registrar of Firms checks the availability of the proposed name during the registration process. If the name is already registered, the firm will have to choose a different name that is not already in use.
| 4. Is it mandatory to register a firm? | |
Ans. It is not mandatory to register a firm, but it is highly advisable to do so. Registration provides legal recognition to the firm and offers several benefits. Registered firms can file suits against third parties, enjoy protection under various laws, and avail of certain tax benefits. Additionally, registration ensures transparency and credibility, which can be beneficial for business operations and attracting potential partners and investors.
| 5. Can a firm be dissolved without the consent of all partners? | |
Ans. Generally, a firm cannot be dissolved without the consent of all partners. Dissolution requires mutual agreement among the partners as per the provisions of the partnership deed. However, in certain exceptional cases, the court may order the dissolution of a firm even without the consent of all partners, if it is proved that the firm cannot be carried on as per the terms of the partnership deed or due to certain misconduct or incapacity of a partner.
Related Exams
About this Document
|
1.1K Views |
|
4.68/5 Rating |
|
Nov 23, 2024 Last updated |
Document Description: MCQ - Registration and Dissolution of firm - 2 for CA Foundation 2024 is part of Business Laws for CA Foundation preparation.
The notes and questions for MCQ - Registration and Dissolution of firm - 2 have been prepared according to the CA Foundation exam syllabus. Information about MCQ - Registration and Dissolution of firm - 2 covers topics
like and MCQ - Registration and Dissolution of firm - 2 Example, for CA Foundation 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for MCQ - Registration and Dissolution of firm - 2.
Introduction of MCQ - Registration and Dissolution of firm - 2 in English is available as part of our Business Laws for CA Foundation
for CA Foundation & MCQ - Registration and Dissolution of firm - 2 in Hindi for Business Laws for CA Foundation course.
Download more important topics related with notes, lectures and mock test series for CA Foundation
Exam by signing up for free. CA Foundation: MCQ - Registration and Dissolution of firm - 2 | Business Laws for CA Foundation
Description
Full syllabus notes, lecture & questions for MCQ - Registration and Dissolution of firm - 2 | Business Laws for CA Foundation - CA Foundation | Plus excerises question with solution to help you revise complete syllabus for Business Laws for CA Foundation | Best notes, free PDF download
Information about MCQ - Registration and Dissolution of firm - 2
In this doc you can find the meaning of MCQ - Registration and Dissolution of firm - 2 defined & explained in the simplest way possible. Besides explaining types of
MCQ - Registration and Dissolution of firm - 2 theory, EduRev gives you an ample number of questions to practice MCQ - Registration and Dissolution of firm - 2 tests, examples and also practice CA Foundation
tests
|
Explore Courses for CA Foundation exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
MCQ - Registration and Dissolution of firm - 2 | Business Laws for CA Foundation
,mock tests for examination
,Exam
,ppt
,Sample Paper
,Semester Notes
,Summary
,MCQs
,MCQ - Registration and Dissolution of firm - 2 | Business Laws for CA Foundation
,past year papers
,shortcuts and tricks
,Extra Questions
,MCQ - Registration and Dissolution of firm - 2 | Business Laws for CA Foundation
,practice quizzes
,Free
,Previous Year Questions with Solutions
,video lectures
,study material
,Viva Questions
,Important questions
,Objective type Questions
;
Additional Information about MCQ - Registration and Dissolution of firm - 2 for CA Foundation Preparation
MCQ - Registration and Dissolution of firm - 2 Free PDF Download
The MCQ - Registration and Dissolution of firm - 2 is an invaluable resource that delves deep into the core of the CA Foundation exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the MCQ - Registration and Dissolution of firm - 2 now and kickstart your journey towards success in the CA Foundation exam.
Importance of MCQ - Registration and Dissolution of firm - 2
The importance of MCQ - Registration and Dissolution of firm - 2 cannot be overstated, especially for CA Foundation aspirants.
This document holds the key to success in the CA Foundation exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
MCQ - Registration and Dissolution of firm - 2 Notes
MCQ - Registration and Dissolution of firm - 2 Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to MCQ - Registration and Dissolution of firm - 2.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, MCQ - Registration and Dissolution of firm - 2 Notes on EduRev are your ultimate resource for success.
MCQ - Registration and Dissolution of firm - 2 CA Foundation Questions
The "MCQ - Registration and Dissolution of firm - 2 CA Foundation Questions" guide is a valuable resource for all aspiring students preparing for the
CA Foundation exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study MCQ - Registration and Dissolution of firm - 2 on the App
Students of CA Foundation can study MCQ - Registration and Dissolution of firm - 2 alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the MCQ - Registration and Dissolution of firm - 2,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of MCQ - Registration and Dissolution of firm - 2 is prepared as per the latest CA Foundation syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup