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Test: Relations Of Partners- 2 - CA Foundation MCQ


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30 Questions MCQ Test - Test: Relations Of Partners- 2

Test: Relations Of Partners- 2 for CA Foundation 2024 is part of CA Foundation preparation. The Test: Relations Of Partners- 2 questions and answers have been prepared according to the CA Foundation exam syllabus.The Test: Relations Of Partners- 2 MCQs are made for CA Foundation 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Relations Of Partners- 2 below.
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Test: Relations Of Partners- 2 - Question 1

Every partner is bound to attend _______ to his duties in the conduct to the business.

Test: Relations Of Partners- 2 - Question 2

 In case of __________ the continuing guarantee given to the firm or the third party in respect of the transaction of the firm, the continuing guarantee is revoked as to future transactions of the firm:

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Test: Relations Of Partners- 2 - Question 3

Which of the following is within the implied authority of a partner:

Test: Relations Of Partners- 2 - Question 4

X and Y are partners in a firm dealing in garments. X Placed an order in the firm’s name and on the firm’s letter head for 10 bottles of wine to be supplied at his residence:

Test: Relations Of Partners- 2 - Question 5

The relationship of principal and agent may arise by: 

Test: Relations Of Partners- 2 - Question 6

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

Test: Relations Of Partners- 2 - Question 7

X introduces Y to Z as a partner in his business. Y, infact, was not a partner but he did not deny the statement. Z advanced a loan to X. X could not repay the loan. Z can hold Y responsible for the repayment of loan because:

Test: Relations Of Partners- 2 - Question 8

In absence of partnership deed interest on capital is charged for a fixed period of: 

Test: Relations Of Partners- 2 - Question 9

Which of the following acts are beyond the scope of ‘Implied Authority’ of a partner?

Test: Relations Of Partners- 2 - Question 10

Every partner is bound to attend _______ to his duties in the conduct of the business: 

Test: Relations Of Partners- 2 - Question 11

 A, B C were partners in a partnership firm. “A paid the liabilities of the firm although he had no authority to do so. What can be the possible action of other partners?

Test: Relations Of Partners- 2 - Question 12

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

Test: Relations Of Partners- 2 - Question 13

 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 …………..:

Test: Relations Of Partners- 2 - Question 14

 For the Acts of the firm: 

Test: Relations Of Partners- 2 - Question 15

An admission or representation made by a partner concerning the affairs of the firm is the evidence against the firm in …………….. :

Test: Relations Of Partners- 2 - Question 16

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

Test: Relations Of Partners- 2 - Question 17

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

Test: Relations Of Partners- 2 - Question 18

Which of the following acts are within the implied authority of a partner of a firm?

Test: Relations Of Partners- 2 - Question 19

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

Test: Relations Of Partners- 2 - Question 20

A, B, C are members of a banking firm. D who owes the firm Rs. 1,000 pays it to A. A without informing B and C about the payment by D, misappropriates the amount. Is D discharged of his debt to the firm by the payment made to A:

Test: Relations Of Partners- 2 - Question 21

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

Test: Relations Of Partners- 2 - Question 22

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:

Test: Relations Of Partners- 2 - Question 23

Public notice is not required when : 

Test: Relations Of Partners- 2 - Question 24

Reconstruction of a firm occurs when:

Test: Relations Of Partners- 2 - Question 25

Every partner has a right to:

Test: Relations Of Partners- 2 - Question 26

Partnership property vests in the: 

Test: Relations Of Partners- 2 - Question 27

To bind the firm under implied authority, the act must be done in the________ of carrying on the firm’s business: 

Test: Relations Of Partners- 2 - Question 28

 If profit sharing ratio is not specified in the partnership deed, then the profit is shared_______:

Test: Relations Of Partners- 2 - Question 29

 A third party deals with the firm without knowledge that ‘A’ (a sleeping partner) has retired from the firm. In such a case, ‘A’ : 

Test: Relations Of Partners- 2 - Question 30

Which of the following acts is included in the implied authority of a partner?

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