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This online test contains MCQs about following topics:
Introduction and definiation characteristicsm merits and demerits of partnership . Kinds of partnership . Partnership deed and its contents . Rules applicable in the absence of partnership deed . Duties, rights and liabilities of partnership . Kinds of partners . Dissolution of partnership firm . Distribution of firm's assets
ICOM Part 1 Commerce Ch. 4 Test
ICOM Part 1 English Medium Subjects
ICOM Part 1 Urdu Medium Subjects
MCQ's Test For Chapter 4 "Principle of Commerce Icom Part 1 English Medium Chapter 4 Online Test"
Try The MCQ's Test For Chapter 4 "Principle of Commerce Icom Part 1 English Medium Chapter 4 Online Test"
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Total Questions15
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Time Allowed20
Principle of Commerce Icom Part 1 English Medium Chapter 4 Online Test
00:00
Question # 1
Partnership business is formed under the Partnership Act:
Question # 2
At least how many partners should have a limited liability in a limited partnership:
Question # 3
The first payment after dissolution of partnership is made to:
Question # 4
At least how many partners should have a limited liability in a limited partnership
Question # 5
If any partner is not in a position to compensate the business loss called:
Question # 6
Active partner in a partnership business:
Question # 7
The maximum number of partners in ordinary partnership
Question # 8
In the absence of agreement, what will be the interest rate on extra capital of a partner:
Question # 9
Partnership deed can be:
Question # 10
The best form of a partnership deed is
Question # 11
The liability of a partner in partnership is normally:
Question # 12
In the absence of agreement, a partner receives for taking part in business:
Question # 13
If the court declares the bankruptcy of any partner in partnership firm
Question # 14
the maximum number of partners in ordinary partnership:
Question # 15
In the absence of agreement, what will be the interest rate on extra capital of a partner
11th Principles of Commerce Chapter 4 Test
Here you can prepare 11th Principles of Commerce English Medium Chapter 4 Partnership Test. Click the button for 100% free full practice test.
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| Sr.# | Question | Answer |
|---|---|---|
| 1 | The liability of a partner in partnership is normally: |
A. Limited
B. Unlimited
C. Not at all
D. all the above
|
| 2 | The minimum number of partners in a partnership are: |
A. Two
B. Four
C. Six
D. Ten
|
| 3 | Limited partnership is formed under Limited Partnership Act: |
A. 1997
B. 2007
C. 2010
D. 2017
|
| 4 | A non-active partner in a partnership: |
A. Neither invests nor takes part in the business
B. Doesn't invest buttakes part in the business
C. Invests but doesn'ttake part in the business
D. None of the above
|
| 5 | The first payment after dissolution of partnership is made to: |
A. Partners
B. Partners for their debts
C. External creditors
D. None of these
|
| 6 | Limited partnership is formed under limited partnership act |
A. 1897
B. 1907
C. 1917
D. 1927
|
| 7 | In the absence of agreement, a partner receives on extra capital |
A. Interest
B. No interest
C. More share in profit
D. Salary
|
| 8 | In the absence of agreement, what will be the interest rate on extra capital of a partner: |
A. 4%
B. 6%
C. 10%
D. 12%
|
| 9 | Partnership business as compared to sole tradership is: |
A. More flexible
B. Less flexible
C. Not flexible
D. May be in all forms
|
| 10 | In the absence of agreement, what will be the interest rate on extra capital of a partner |
A. 4%
B. 6%
C. 10%
D. 12%
|
| 11 | the maximum number of partners in ordinary partnership: |
A. Ten
B. Twenty
C. Thirty
D. Forty
|
| 12 | Partnership business is formed under the Partnership Act: |
A. 1910
B. 1922
C. 1932
D. 1990
|
| 13 | The minimum number of partners in banking business are |
A. Ten
B. Twenty
C. Thirty
D. Fifty
|
| 14 | Age of minor partner is: |
A. 18 years
B. More than 18 years
C. Less than 18 years
D. None of these
|
| 15 | Partnership deed can be: |
A. Written
B. Oral
C. Written & Registered
D. All are correct
|
Test Questions
