Question # 1

A non-active partner in a partnership

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Neither invests nor takes part in the business

Doesn't invest but takes part in the business

Invests but doesn't take part in the business

None of the above

Registration of the partnership business:

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Is necessary

Depends on the will of partners

Depends on the will of registrar

None of these

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

Partnership business as compared to sole tradership

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More flexible

Less flexible

Not flexible

May be in all forms

Partnership business is formed under the partnership act

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1910

1922

1932

1990

A non-active partner in a partnership:

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Neither invests nor takes part in the business

Doesn't invest buttakes part in the business

Invests but doesn'ttake part in the business

None of the above

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 deed can be:

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Written

Oral

Written & Registered

All are correct

When did the partnership business come into being

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1872

1880

1892

1902

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

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One

Two

Three

All

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

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Interest

No interest

More share in profit

Salary

The minimum number of partners in a partnership are:

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Two

Four

Six

Ten

When did the partnership business come into being:

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1872

1880

1892

1902

In the absence of agreement, what will be the interest rate on extra capital of a partner

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4%

6%

10%

12%

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

Partnership business is formed under the Partnership Act:

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1910

1922

1932

1990

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

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