Question # 1

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%

Partnership business is formed under the Partnership Act:

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1910

1922

1932

1990

The best form of a partnership deed is

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Verbal

Written

Written & registered

None of the above

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

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One

Two

Three

Four

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%

Partnership business as compared to sole tradership

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More flexible

Less flexible

Not flexible

May be in all forms

The best form of a partnership deed is:

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Verbal

Written

Written and registered

None of the above

Limited partnership is formed under Limited Partnership Act:

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1997

2007

2010

2017

The minimum number of partners in a partnership are:

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Two

Four

Six

Ten

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

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Interest

No interest

More share in profit

Salary

The partnership formed for any special project is called:

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Limited partnership

Particular partnersip

Partnership at will

All of these

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

Partnership business is formed under the partnership act

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1910

1922

1932

1990

The liability of a partner in partnership is normally

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Limited

Unlimited

Not at all

All the above

Shirkat-ul-Mufavdha cannot be formed between

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Muslims & non-muslim

Owner and worker

Major and minor

All correct

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

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