PPT - Relation of Partners (Part - 1) CA Foundation Notes | EduRev

Mercantile Law for CA CPT

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CA Foundation : PPT - Relation of Partners (Part - 1) CA Foundation Notes | EduRev

 Page 1


Questions 
Questions  On  Rights & 
Duties of Partner 
Page 2


Questions 
Questions  On  Rights & 
Duties of Partner 
Question No.1 
Every partner shall indemnify the firm for any loss 
caused to it by his 
A] Fraud 
B] Mistake of Fact 
C] Misrepresentation 
D] Mistake of Law  
Ans A 
Page 3


Questions 
Questions  On  Rights & 
Duties of Partner 
Question No.1 
Every partner shall indemnify the firm for any loss 
caused to it by his 
A] Fraud 
B] Mistake of Fact 
C] Misrepresentation 
D] Mistake of Law  
Ans A 
Question No.2 
If a partner advances money to the firm he will be 
entitled to interest on capital 
A] Only in case of profits  
B] Whether there are profits or not 
C] At market rate 
D] Not entitled to interest on advances 
Ans A 
Page 4


Questions 
Questions  On  Rights & 
Duties of Partner 
Question No.1 
Every partner shall indemnify the firm for any loss 
caused to it by his 
A] Fraud 
B] Mistake of Fact 
C] Misrepresentation 
D] Mistake of Law  
Ans A 
Question No.2 
If a partner advances money to the firm he will be 
entitled to interest on capital 
A] Only in case of profits  
B] Whether there are profits or not 
C] At market rate 
D] Not entitled to interest on advances 
Ans A 
Question No.3 
A partner who receives certain remuneration from the firm as 
per express agreement, becomes employee of the firm. 
A]  True B] False 
Ans B 
Page 5


Questions 
Questions  On  Rights & 
Duties of Partner 
Question No.1 
Every partner shall indemnify the firm for any loss 
caused to it by his 
A] Fraud 
B] Mistake of Fact 
C] Misrepresentation 
D] Mistake of Law  
Ans A 
Question No.2 
If a partner advances money to the firm he will be 
entitled to interest on capital 
A] Only in case of profits  
B] Whether there are profits or not 
C] At market rate 
D] Not entitled to interest on advances 
Ans A 
Question No.3 
A partner who receives certain remuneration from the firm as 
per express agreement, becomes employee of the firm. 
A]  True B] False 
Ans B 
Question No.4 
Subject to contract between the partners, and 
pursuant to sections of the Indian Partnership, the 
following statement is correct. 
a] Partner is not entitled to interest on the capital subscribed by 
him. 
b] Partner is not entitled to interest on the advance made over 
and above the share of capital 
c] Partner is not entitled to remuneration for taking part in the 
conduct of the business  
D] All the above. 
Ans: D 
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