Question # 1

If the court declares the bankruptcy of any partner in partnership firm

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The partnership continues

The partnership becomes weak

The partnership becomes cancels

A new partner is admitted

Partnership deed can be:

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Written

Oral

Written & Registered

All are correct

The liability of a partner in partnership is normally

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Limited

Unlimited

Not at all

All the above

The minimum number of partnership in a partnership are

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Two

Four

Six

Ten

The partners who participate in the business but people don't know them are:

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Silent partners

Non active partners

Nominal partners

Active partner

If the court declares the bankruptcy of any partner in partnership then

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The partnership continues

The partnership becomes weak

The partnership becomes cancels

A new partner is admitted

In the absence of agreement, a partner receives for taking part in business:

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Remuneration

No remuneration

More Profit

Interest

At least how many partners should have a limited liability in a limited partnership

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One

Two

Three

Four

The best form of a partnership deed is:

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Verbal

Written

Written and registered

None of the above

In Shirkat-ul-Anan the share holders/partners invest:

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Only cash

Cash and goods

Only goods

All are correct

Partnership business as compared to sole tradership

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More flexible

Less flexible

Not flexible

May be in all forms

Active partner in a partnership business:

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Invests but doesn'ttake part in the business

Neither invests nortakes part in the business

Invests andtakes part in the business

None of the above

Partnership business as compared to sole tradership is:

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More flexible

Less flexible

Not flexible

May be in all forms

In the absence of agreement, a partner receives on extra capital:

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Interest

No interset

More share in profit

Salary

The minimum number of partners in banking business are

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Ten

Twenty

Thirty

Fifty

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Principle of Commerce Icom Part 1 English Medium Chapter 4 Online Test MCQs With Answers

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